Submission of Scrutinizer Report and Outcome of Voting of Postal Ballot
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Harish Textile Engineers Limited concluded a Postal Ballot (remote e-voting) on April 29, 2025, with all six resolutions passed with overwhelming majority (over 99.99% in favor on each). The resolutions covered: (1) withdrawal of the previously approved increase in authorized share capital, (2) withdrawal of the related MoA capital clause alteration, (3) approval of an MoU to transfer agricultural lands to Agratha Enterprises (a related party), (4) approval of related party transactions for the same land transfer, (5) appointment of Mr. Mahesh Ratilal Sapariya as Non-Executive Independent Director, and (6) appointment of Mr. Sunil Narayan Bhirud as Executive Director. Total share base is 33.36 lakh shares with about 53.55% voting turnout; promoters (holding ~48.15%) voted fully in favor. On related-party resolutions, only non-interested shareholders' votes were counted toward the majority.
Shareholders should note the company is rolling back its earlier plan to increase authorized capital (no near-term dilution), while moving to transfer agricultural assets to a related entity, Agratha Enterprises, with separate independent shareholder approval. Two new directors have joined the board, including one Executive Director, which may signal leadership consolidation.