Ganga Forging Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
GANGAFORGE · price
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Ganga Forging Limited announced the results of a postal ballot (conducted via e-voting from 21st March to 19th April 2025) seeking shareholder approval for a related party transaction with Mr. Mayurkumar Mansukhlal Kalaria, in whom promoters are interested. Out of 13.48 crore total outstanding shares, only 96,841 shares (0.072% of outstanding shares) were validly cast by public non-institutional shareholders. Of these, 95,741 votes (98.86%) were in favour and 1,100 votes (1.14%) were against. Promoters (holding 5.28 crore shares) and public institutions (holding 50 lakh shares) did not vote, being interested/deemed interested in the resolution. Additionally, 2.26 crore shares from 4 shareholders were considered invalid as those holders were also deemed interested in the resolution. The ordinary resolution was passed with the requisite majority.
The related party transaction has been approved by shareholders, but the extremely low voting turnout (0.07%) and exclusion of promoter votes raise questions about broader shareholder engagement. Minority public shareholders strongly supported the resolution, but retail investors should note the related party nature and assess the deal terms independently.