Please find enclosed combined Scrutinizer Report for Postal Ballot
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Harish Textile Engineers Limited (BSE: 542682) conducted a postal ballot via remote e-voting from June 13, 2025 to July 12, 2025, and all 4 resolutions were passed with over 99% approval from non-interested shareholders. The key resolution is the sale/transfer of the company's textile processing and finishing machinery business to Nfinia Industries Private Limited, a promoter-controlled entity, on a slump sale basis as a going concern. Other resolutions approved include the related party transaction for this business transfer, a related party transaction for the leave and license arrangement of the registered office, and the appointment of Mr. Ashwini Ramakant Gupta as a Non-Executive Independent Director. The promoter group abstained from voting on the related party resolutions (resolutions 1, 2, and 3) as they were interested parties. Only about 9.72% of the total outstanding shares (33,36,000 shares) participated in the voting.
The company is divesting its textile machinery business to a promoter-owned entity, which is a significant restructuring that shareholders should evaluate for what business remains in the listed entity. While approval rates were high (>99%), this was based on a low voting turnout of roughly 9.7% of outstanding shares, so minority shareholders should monitor post-transaction disclosures for valuation fairness and the strategic direction of the residual business.