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Corporate Merchant Bankers Limited held its Annual General Meeting on 29 September 2025 via video conferencing from 2:00 PM to 2:05 PM, where all 7 resolutions were passed. Only 20 public shareholders attended remotely, and voting participation was extremely thin — just 179 shares (0.0054% of the 33 lakh outstanding shares) were polled. The promoter group, holding roughly 1.98 lakh shares (~60% of the company), did not cast any votes. Key resolutions included adopting the FY25 audited accounts, re-appointing and elevating Mr. Vishal Jethalal Nayak as Managing Director, and seeking shareholder approval for higher borrowing limits under Section 180(1)(c), powers to sell/dispose of undertakings, inter-corporate investments and loans under Section 186, and approval of loans to directors under Section 185 of the Companies Act, 2013. All resolutions were passed with 100% votes in favour and zero dissent among those who voted.
Low voting turnout means resolutions technically passed but with negligible shareholder engagement, limiting their legitimacy in the eyes of minority investors. Special resolutions to lend to directors and to dispose of whole undertakings give the board significant financial flexibility that shareholders should monitor closely.