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IGC Industries Ltd held its 44th Annual General Meeting on September 30, 2025 via video conferencing, and the scrutinizer (M/s Ramesh Chandra Bagdi & Associates) has submitted the consolidated report on remote e-voting and AGM e-voting results. All 11 resolutions were passed with the requisite majority. Voting was thin — only 10,01,930 shares out of 3,47,20,000 (2.88% of total) were polled, of which 89.52% voted in favour and 10.48% voted against, with about 10 invalid votes. Key resolutions included adoption of FY2025 audited financial statements, re-appointment of a retiring director (Ms. Supriya Dilip Gaikwad, DIN: 09837251), increase in authorised share capital, acquisition of 40,40,443 equity shares of CNX Corporation Ltd at Rs. 50/share through a share swap (special resolution), appointment of the secretarial auditor for 5 years, and board authorisations under Sections 180(1)(a), 180(1)(c) and 186 of the Companies Act, 2013 with aggregate limits of Rs. 100 crore and Rs. 150 crore.
Routine post-AGM compliance filing — all resolutions passed cleanly with overwhelming support, but the very low voter turnout (2.88%) reflects the small-cap status. The share-swap acquisition of CNX Corporation and the larger borrowing/investment limits signal potential for expansion or acquisitions, though low participation means these decisions rest largely with promoter-aligned shareholders.