Submission of Scrutinizer Report and Outcome of Voting of Postal ballot of Harish textile Engineers Limited
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Harish Textile Engineers Limited conducted a Postal Ballot (remote e-voting) that concluded on 29th April 2025. Shareholders approved all 6 resolutions with overwhelming support of approximately 99.99% in favour. The resolutions include withdrawal of the previously approved increase in authorized share capital and related alteration of the MoA's capital clause (resolutions 1 & 2), approval of an MoU and related party transaction for transfer of agricultural lands to Agratha Enterprises (resolutions 3 & 4, in which promoters are interested), and appointment of two directors — Mr. Mahesh Ratilal Sapariya as Non-Executive Independent Director and Mr. Sunil Narayan Bhirud as Executive Director (resolutions 5 & 6). Of 9,845 shareholders on record date, voting turnout was about 53.55% with only 12 votes cast against each resolution. The scrutinizer CS Dipali Natvar Vora confirmed the results on 2nd May 2025.
The company is moving ahead with transferring agricultural lands to a related party (Agratha Enterprises) and has reversed an earlier approved capital increase plan, which signals a strategic shift away from equity dilution. Two new directors have been formally inducted, with Mr. Bhirud joining as Executive Director, expanding the management team. No negative investor pushback was observed as nearly all public votes (over 99.99%) supported every resolution.