Hubtown Limited has submitted the Exchange a copy Srutinizers report and Voting Results under Reg. 44(3) of SEBI (LODR) Regulation 2015, of Extraordinary General Meeting held on Jun 27, 2025
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Hubtown Limited has submitted the voting results and scrutinizer's report for its Extraordinary General Meeting (EGM) held on June 27, 2025. Nine resolutions were put to vote, and all were passed with overwhelming majority. Key approvals include: increase in borrowing limits under Section 180(1)(c) (99.99% in favour), creation of charges/mortgages for borrowings up to Rs. 6,000 crores (99.99% in favour), and approval to advance loans/give guarantees under Section 185 (99.00% in favour). Other passed resolutions cover sale/disposal of assets exceeding 20% of material subsidiaries (99.94%), pledge of shares in material subsidiaries (99.94%), re-appointment of Mr. Kartik Ruparel as Independent Director (99.60%), material related party transactions (98.94%), and cancellation of 1,59,574 unsubscribed equity shares (99.99%). Promoters voted 90.98% on resolutions where they were not deemed interested, and abstained on resolutions where they were interested (items 3, 4, 5, 7, and 8). Total voting turnout was approximately 48.26% of outstanding shares across all resolutions.
All 9 resolutions passed comfortably, giving the company broad approval to raise borrowings up to Rs. 6,000 crores, pledge assets, and enter into material related party transactions. Shareholders should note the significant borrowing expansion and related party transaction approvals, which could increase the company's debt load and financial leverage. The cancellation of unsubscribed shares is a minor housekeeping matter.