Disclosure of Voting Results of Postal Ballot Notice dated February 24, 2025 along with Scrutinizer Report.
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Harshdeep Hortico Limited has announced the results of its postal ballot conducted via remote e-voting between February 28 and March 29, 2025, with the cut-off date set at February 21, 2025 (726 shareholders on record). All 6 resolutions were passed with the required majority and zero votes against. Key items approved include: appointment of M/s Kailash Chand Jain & Co. as statutory auditors to fill the casual vacancy caused by the resignation of M/s DGMS & Co., regularization of Mr. Shankar Keshava Vailaya as Non-Executive Independent Director, revision in remuneration including commission for Chairman & MD Mr. Hitesh Chunilal Shah (with promoter votes of 1.17 crore shares excluded as interested, leaving 3,23,260 public non-institution votes), and board authorisations under Sections 186 and 180(1)(a) of the Companies Act for investments/lending and securing borrowings respectively. Out of total 1.60 crore equity shares, about 1.21 crore (74.98%) participated in voting.
The results confirm routine corporate governance clearances with no shareholder dissent, including the auditor change and an increase in MD remuneration funded by commission. The expanded borrowing and lending powers under Sections 180/186 give the board more financial flexibility, which could lead to higher debt or related-party transactions; investors should monitor any future announcements triggered by these newly approved limits.