Disclosure of Voting results under regulation 44(3) of SEBI (LODR) Regulation 2015 along with the Scrutinizer''s Report
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Bharat Global Developers Ltd (formerly Kkrrafton Developers Ltd) held its AGM on September 30, 2025 via video conferencing. Only 49 members holding 10,583 shares cast votes — a very low turnout. Of 7 resolutions, only 2 passed: the adoption of FY25 audited financial statements (65.52% in favour) and the appointment of a statutory auditor to fill a casual vacancy (62.74% in favour). Five resolutions were rejected with overwhelming 'Against' votes (over 83% opposition each), including the re-appointment of director Tahir Mustufa Masalawala, the appointment of Sunit M Chhatbar & Co as statutory auditor, the appointment of H. Togadiya & Associates as secretarial auditor, the appointment of Keyurkumar Pravinbhai Patel as Managing Director, and the regularisation of Dharmesh Solanki as Non-Executive Director.
This is a major governance red flag. The appointment of the Managing Director himself (Keyurkumar Patel) was rejected by shareholders, which is highly unusual and creates significant leadership uncertainty. Multiple key governance resolutions failing suggests serious shareholder dissatisfaction and could weigh negatively on the stock. The company will need to reconvene to address these failed resolutions.