Scrutinizer''s report dated May 05, 2025
CARTRADE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CarTrade Tech conducted a Postal Ballot by remote e-voting from April 03 to May 02, 2025, on two resolutions. The first, an ordinary resolution to re-appoint Mr. Vinay Vinod Sanghi (founder-promoter) as Managing Director for five years effective April 01, 2026, was passed with 91.51% votes in favour (3.03 crore shares) against 8.49% opposing. The second, a special resolution to appoint Mr. Steven Douglas Greenfield as Non-Executive Independent Director for five years effective April 01, 2025, was passed with overwhelming 99.85% support (3.31 crore shares in favour, only 0.15% against). Overall voter turnout was about 70% of total shares, with public institutions participating heavily (88.87% polling) and non-institutions at around 9%. Both resolutions were declared duly passed by the scrutinizer M. Jawadwala & Co.
Shareholders have given strong backing to continuity in leadership with the founder-promoter retaining the MD seat, plus approval for a new independent director to strengthen the board. The very high approval margins (especially 99.85% for the new independent director) suggest no meaningful shareholder dissent and are unlikely to move the stock on their own.