Declaration of Voting Result of Postal Ballot through remote e-voting process.
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IITL Projects Ltd conducted a postal ballot to seek shareholder approval for changing the redemption terms of 70 lakh Zero% Non-Convertible Redeemable Preference Shares held by its holding company, Industrial Investment Trust Limited. Voting took place from December 10, 2025 to January 08, 2026. Out of 1,062 shareholders on the cut-off date, only public non-institutional shareholders participated, casting just 361 votes (0.0072% of total outstanding shares of 49.9 lakh). The special resolution passed unanimously with 100% votes in favor and none against. Promoters, who hold 35.8 lakh shares, did not vote since they are an interested party in this related-party transaction.
The approved variation gives the holding company flexibility on the redemption timeline of its preference shares, potentially affecting the company's future cash outflows and capital structure. Low public shareholder turnout means the resolution was passed almost entirely without public participation, though the result is legally binding.