Details regarding Voting Results of 16th Annual General Meeting of M/s IFL Enterprises Limited under regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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IFL Enterprises held its 16th AGM on September 30, 2025, via video conferencing, where all 6 resolutions were put to shareholder vote. None of the resolutions passed — the promoter/promoter group did not cast any votes, and public non-institutional shareholders voted overwhelmingly against every item (roughly 67-68% against vs 32% in favor). The rejected resolutions included adoption of audited standalone and consolidated financial statements for FY25, re-appointment of a director (Mr. Meet Sureshbhai Chhatrala) by rotation, appointment of a new Managing Director (Mr. Didawala Akshay Kumar Shailendra), alteration of the Object Clause of the MOA, and appointment of the secretarial auditor. Only about 0.27% of total shares were polled, and just 55 public shareholders attended the meeting virtually out of over 2 lakh shareholders on record.
This is highly unusual and concerning for shareholders — even routine items like adopting the annual financial statements failed, signaling deep shareholder dissatisfaction or governance issues. The stock could face negative sentiment, and the company will likely need to re-convene another meeting to pass these basic resolutions.