Consolidated Srutinizer Report on remote E-Voting conducted pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies ( Management and Administrartion) ....
Awaiting price reaction for this filing.
Minolta Finance held its 33rd AGM on September 19, 2025 via video conferencing, where 6 resolutions were put to e-vote. Of these, 5 were passed and 1 was rejected. Resolutions that passed include adoption of FY25 audited financial statements (99.97% in favour), reappointment of director Arvind Jethalal Gala (99.97%), appointment of M/s JCR & Co LLP as statutory auditor (99.97%), shifting the registered office from West Bengal to Maharashtra (99.94%), and appointing Amruta Giradkar & Associates as secretarial auditor for 5 years (99.96%). The Employee Stock Option Plan 2025 was decisively rejected, with only 11.45% votes in favour and 88.55% against. Notably, only about 2% of total shares were polled for most resolutions, and the promoter group (holding ~3.59 lakh shares) did not cast any votes.
The rejection of the ESOP 2025 is the key takeaway—shareholders overwhelmingly opposed the employee stock option plan, which may delay or force a redesign of management's incentive structure. The registered office shift to Maharashtra aligns with where the corporate office already operates. Otherwise, the meeting reflected routine corporate housekeeping with very low shareholder participation.