Scrutinizer Report and Voting Results of Extraordinary General Meeting held on 7th May 2026 to approve the mandate to initiate Pre-packaged Insolvency Resolution Process/ Corporate Insolvency ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.7 pts more than Nifty Microcap 250 and 2.7 pts more than its Stationary peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Gala Global Products Ltd held an Extraordinary General Meeting on 7th May 2026, where shareholders voted on a Special Resolution to approve initiation of either a Pre-Packaged Insolvency Resolution Process (PPIRP) or Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The resolution was passed with overwhelming support — 2,57,784 votes in favour (97.29%) against 7,170 votes against (2.71%). Only 2,64,954 votes were cast out of 5,45,88,083 total shares (0.49% turnout), with 47 shareholders participating via remote e-voting. Promoter group held 79,220 shares and voted entirely in favour. The scrutinizer confirmed the resolution was passed with the requisite majority, with votes witnessed by two independent witnesses.
Shareholders have authorised the company to file for formal insolvency proceedings under IBC 2016, which is a significant negative signal — it signals the company is unable to meet its debt obligations and is seeking a structured resolution process, likely leading to suspension of normal trading or a halt.