Please find enclosed the scrutinizer report for the postal ballot conducted for seeking approval of members for related party transaction to be entered into with Mr. Bhavik Bhimjyani, Chairman ....
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Asian Warehousing Limited has announced the results of a postal ballot conducted to seek shareholder approval for a material related party transaction with Mr. Bhavik Bhimjyani, the company's Chairman and Managing Director. The remote e-voting period ran from June 17, 2025 to July 16, 2025. Of the 3,487,200 outstanding shares, only 51,462 votes were polled (about 1.47%), with 51,444 votes (99.96%) in favour and just 18 votes (0.03%) against the resolution. The promoter group, which holds 2,476,833 shares and is interested in the resolution, did not cast any votes. The ordinary resolution was declared passed with requisite majority on July 16, 2025.
Shareholders have approved the related party transaction involving the Chairman and MD, clearing the way for the company to proceed with the deal. The very low voting turnout and the promoter's non-participation (despite being an interested party) may raise governance questions among minority shareholders, though the resolution comfortably passed.