Submission of Voting Result of EGM of the Company held on Friday 19 December 2025
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Awaiting price reaction for this filing.
Cospower Engineering Ltd held an EGM on 19 December 2025 where all 6 special resolutions were passed unanimously (100% in favour). Resolutions included: (1) increase in authorised share capital, (2) issue of equity shares on a preferential basis to non-promoters for cash consideration, and (3-6) revision of remuneration for four directors — Mr. Oswald Rosario D'Souza (Wholetime Director), Mr. Felix Shridhar Kadam (Managing Director), Ms. Janet D'Souza, and Ms. Christbell Felix Kadam (both Non-Executive Non-Independent Directors) — exceeding the limits under Section 197 and Schedule V of the Companies Act, 2013. For the director remuneration resolutions, promoter group votes were excluded due to conflict of interest, and only public shareholders voted (5 members, 26,001 shares, 100% in favour). On the capital and preferential issue resolutions, 11 members representing 11,28,000 shares voted, all in favour. The company had 43 shareholders on the record date of 12 December 2025.
The approved increase in authorised share capital and preferential issue to non-promoters paves the way for a potential equity dilution and fundraise, which existing shareholders should monitor for pricing and dilution impact. The upward revision of remuneration for the Managing Director, Wholetime Director, and two non-executive directors is a governance and cost matter — investors should assess whether the higher payouts are justified by company performance, since promoter-aligned votes were excluded on these resolutions.