E-voting Results & Scrutinizer''s Report of 3rd Extra-Ordinary General Meeting
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Avax Apparels and Ornaments Limited held its 3rd EGM on March 13, 2026, via video conferencing, where all business items were passed with the required majority. Four key resolutions were approved with 100% votes in favour: (1) sub-division of equity share face value from ₹10 to ₹5 per share, (2) issue and approval of bonus shares, (3) redesignation and remuneration of Mr. Harinderpal Singh Sodhi as Joint Managing Director, and (4) redesignation and remuneration of Mr. Deepak Kumar as Joint Managing Director. Of the 1,039,158 total outstanding shares, 646,956 shares (62.26%) were polled, with all votes cast in favour. The company had 83 shareholders on the record date (March 6, 2026), and voting was conducted through CDSL's remote e-voting platform.
Shareholders should expect a stock split (face value halving from ₹10 to ₹5) and a bonus share issuance, both generally positive for liquidity and shareholder value. Director redesignations with promoter interest (resolutions 3 and 4) indicate leadership restructuring but were passed unanimously by voting shareholders.