Corrigendum - Outcome of 33rd Annual General Meeting of the Company, Regulation 44 Voting results and Scrutinizer report
INDOTECH · price
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Indo Tech Transformers held its 33rd AGM on August 11, 2025 via video conferencing, where 10 resolutions were put to vote. This is a corrigendum filing because the company received consolidated AGM attendance data from its Registrar late (on August 12, 2025 at 9:29 AM), causing a delayed submission to stock exchanges. Of the 10 resolutions, 9 passed with overwhelming majority (over 99.99% in favour) including adoption of FY25 audited financials, reappointment of Mr. Sudheer Vennam (rotational), appointment of Mr. M. Purushothaman as Whole-Time Director, reappointment of two Independent Directors (Mr. Ajay Kumar Dhagat and Ms. Leena Sathyanarayanan) for a second 5-year term, reappointment of M/s ASA & Associates LLP as Statutory Auditors for a second 5-year term, related party transaction approval, and cost auditor remuneration ratification. Notably, the AGM voting summary shows Resolution 8 (Appointment of M/s J B Bhave & Co as Secretarial Auditor) was NOT passed, with only 22.05% votes in favour from public non-institutional shareholders (12,356 votes against versus 3,496 in favour). The Chairman highlighted FY25 as a 'year of momentum' with capacity expansion underway and strategic synergies with holding company SSE.
Routine governance matters were completed with strong shareholder support, ensuring board continuity through key director reappointments. The failure of Resolution 8 (Secretarial Auditor appointment) is a notable development that the company will likely need to address through an alternative mechanism or by re-introducing the resolution.