Scrutinizer''s Report of the Extra-Ordinary General Meeting of the Company held on Wednesday, April 09, 2025.
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Azad India Mobility Ltd (formerly Indian Bright Steel Co Ltd, BSE: 504731) held an Extra-Ordinary General Meeting on April 9, 2025, at 12:30 PM in Mumbai. The only special business put to vote was the raising of funds through the issue of equity shares on a preferential allotment basis to individual non-promoter public category investors for cash. The resolution was passed with overwhelming shareholder approval — 336,145 votes (99.99%) in favour and just 1 vote (0.001%) against, out of 336,146 total valid votes cast across remote e-voting and voting at the EGM venue. The e-voting was facilitated through NSDL, with the cut-off date for eligibility set as April 2, 2025. Scrutinizer Mrs. Janki Brahmbhatt of M/s Janki & Associates certified the results.
The near-unanimous approval clears the way for the company to issue fresh equity shares to non-promoter public investors and raise fresh capital. Shareholders should expect potential dilution of their holdings once the preferential allotment is executed, along with incoming capital that may support the company's growth plans.