Voting Results of 59th Annual General Meeting of the Company along with the Scrutinizer''s Report.
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Eraaya Lifespaces Ltd held its 59th AGM on September 30, 2025 via video conferencing. Out of 7 resolutions, only the 2 ordinary resolutions passed: adoption of audited financial statements for FY ending March 31, 2025, and appointment of M/s Shubhangi Agarwal & Associates as Secretarial Auditors for 5 years, both with 65.05% votes in favour. All 5 special resolutions failed as they received only about 65% support, falling short of the 75% threshold required. These included authorising the Board to borrow money, giving loans/guarantees under Section 185, loans and investments under Section 186, related party transactions under Section 188, and conversion of loan into equity. Total votes polled were 15.13 crore shares out of 19.07 crore outstanding (79.37% participation). The promoter group voted 100% in favour, institutional investors 98.13% in favour, but public non-institutions showed notable dissent with about 24% voting against.
Shareholders should note that 5 out of 7 resolutions were rejected, which limits the company's ability to borrow freely, lend to specified persons, exceed investment limits, enter related party transactions, or convert loans into equity without seeking fresh shareholder approval. This could constrain management's operational and financial flexibility going forward.