Submission of Voting Results under Regulation 44 along with the Scrutinizers Report and Proceeding of Postal Ballot.
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Autoriders International Ltd conducted a postal ballot via remote e-voting between March 10 and April 8, 2025, with results declared on April 10, 2025. All 8 resolutions were passed, including the re-appointment of Mr. Anil Kulkarni as Independent Director, increase in Authorized Share Capital, alteration of the ancillary object clause, and an increase in borrowing powers under Section 180(1)(c). Shareholders also approved the board's authority under Section 180(1)(a) up to Rs. 40 crores and the new ESOP Scheme 2025 (including options for group company employees and grants exceeding 1% of issued capital). Voter turnout was extremely low — only 41,400 votes (7.14%) were polled out of 580,140 total shares, with 33 equity shareholders participating. Every resolution passed with 100% of votes in favour and zero votes against, with the promoter group (40,600 votes) accounting for the vast majority of participation.
The new ESOP scheme will create future dilution for existing shareholders once options are granted, while the higher authorized share capital and Rs. 40 crore borrowing limit give management significantly more flexibility for fundraising and expansion. The extremely low voter turnout (~7%) means these outcomes essentially reflect the promoter group's preferences rather than broad shareholder consensus, which retail investors should note.