Carraro India Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
CARRARO · price
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Carraro India Limited conducted a postal ballot (e-voting from Feb 28 to Mar 29, 2026) to seek shareholder approval for a Material Related Party Transaction, with results declared on March 31, 2026. Out of 92,683 shareholders, only 14.56% of outstanding shares (about 82.8 lakh shares) were polled on the resolution. The resolution was approved with an overwhelming 99.96% of votes in favour (82,76,061 shares) and just 0.04% against (3,493 shares). Promoters and promoter group, who are interested parties in the transaction, did not vote at all, holding about 39.1 lakh shares (roughly 69% of the company). Public institutional shareholders voted strongly in favour, with 70.26% of their holdings participating and 100% supporting the resolution, while non-institutional public shareholders showed 67.96% support on a much smaller turnout of just 0.18%.
The Material Related Party Transaction has been cleared by shareholders and can now proceed. While the approval margin is near-unanimous among those who voted, the resolution passed mainly on the back of public institutional shareholders since promoters (who are conflicted) abstained from voting — this is standard procedure for related party approvals and should not raise governance concerns for retail investors.