Submission of Voting Results of Extra Ordinary General Meeting along with Scrutinizer Report.
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Eraaya Lifespaces Ltd (formerly Justride Enterprises Ltd) held an EGM on December 9, 2025 via video conferencing, and the voting results along with the scrutinizer's report (M/s Shubhangi Agarwal & Associates) were submitted to BSE on December 11, 2025. Out of 7 resolutions, 6 were REJECTED because they fell short of the 75% special resolution threshold, getting only about 72.4% in favour. The failed resolutions included issuance of equity shares via swap, authorisation to borrow money, loans/guarantees under Section 185, investments under Section 186, related party transactions under Section 188, and conversion of loan into equity shares. Only the ordinary resolution on recoupment of intragroup service charges from subsidiaries was passed. Public shareholders and institutional investors voted overwhelmingly against (about 97.5% against), while promoters (holding 67.9 million shares) voted 100% in favour, but their stake was insufficient to push votes above the required threshold.
This is a major negative outcome for the company and its promoters — 6 out of 7 key corporate proposals were blocked by public and institutional shareholders, which may delay fundraising plans, restructuring, and related-party transactions. Expect short-term selling pressure and heightened governance scrutiny on the stock.