Outcome of Postal Ballot
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indian Sucrose Limited announced the results of its Postal Ballot concluded on April 26, 2025, with both resolutions passed by the requisite majority. Resolution 1 (Special Resolution) approved limits for advancing loans to related parties under Section 185 of the Companies Act for FY 2025-26, receiving 95.71% votes in favour (1,10,238 votes) and 4.29% against (4,941 votes). Resolution 2 (Ordinary Resolution) approved material related party transactions for FY 2025-26, receiving 95.73% in favour (1,10,263 votes) and 4.27% against (4,916 votes). Notably, promoters holding 1,12,05,701 shares did not cast any votes on either resolution as they are classified as interested parties. Public participation was very low, with only 1,15,179 shares (about 0.66% of total paid-up capital) being voted, of which 200 shares from a related party individual were declared invalid. The scrutinizer's report was issued by Neeraj Arora of Sanjay Grover & Associates on April 28, 2025.
Shareholders have authorised the company to enter into material related party transactions and extend loans to related parties for FY 2025-26, which is routine for closely-held groups but warrants monitoring for arm's-length pricing. The extremely low voting turnout (under 1% of total shares) and non-participation by promoters — both classified as interested — means the 'approval' essentially reflects only a small slice of public non-institutional shareholders, a point retail investors should note.