Please find enclosed the scrutinizer Report along with voting results for the postal ballot concluded on May 15, 2026.
BAJAJINDEF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indef Manufacturing Limited, the resulting company from the demerger of Hercules Hoists Limited, has announced the results of its postal ballot concluded on May 15, 2026. The single special resolution on the agenda was for revision in remuneration of Shri Amit Bhalla (DIN: 08215712), Managing Director. Out of 32 million total shares, 22.8 million votes were cast representing 71.27% voter turnout. The resolution passed overwhelmingly with 99.99% shareholder approval (22,803,775 in favor vs 1,738 against). Promoter group exercised full voting rights (100%), while public institutions voted 100% in favor. Only 12 shareholders dissented out of 99 total voters. The scrutinizer, S.N. Viswanathan of S.N. Ananthasubramanian & Co., certified the result on May 15, 2026.
The near-unanimous approval signals strong shareholder confidence in the management's compensation structure. This outcome is positive for governance and removes any uncertainty around leadership remuneration, though the stock impact may be limited as the revision was likely within market norms.