Scrutinizer''s Report of Postal Ballot through remote E-voting
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bombay Wire Ropes Ltd conducted a postal ballot through remote e-voting from 27th February to 28th March 2026, on two resolutions approved by members. Resolution 1 (Special): Sale of the company's office premises under Section 180(1)(a) read with Section 188 of the Companies Act, 2013. Resolution 2 (Ordinary): Taking office premises on leave and license basis. Promoters, being interested parties, did not vote (holding 33,96,750 shares, ~63.6% of equity). Of the 6,64,106 votes polled (12.44% of total outstanding shares), 77.71% voted in favour and 22.29% against both resolutions. Public institutions voted 100% in favour, while public non-institutions were largely against (68.20% against). Both resolutions passed with the requisite majority on 28th March 2026.
The sale of office premises is a routine asset disposal and not related to core wire ropes operations, so minimal operational impact is expected. However, the fact that promoters abstained from voting and that retail public shareholders overwhelmingly voted against the resolutions (68% opposition) may signal some shareholder dissatisfaction with the asset sale. Watch for proceeds from the sale, which could be used for debt reduction or other corporate purposes.