Pursuant to the provisions of the SEBI (LODR) Regulations, 2015, we hereby submit the Scrutinizer''s Report for the resolutions passed via Postal Ballot.
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Innovators Facade Systems Limited conducted a Postal Ballot via remote e-voting from March 1, 2025 to March 31, 2025 on four resolutions, and all were passed with 100% assent and zero dissent. Resolution 1 (Special) was the re-appointment of Mr. Subhash Chand Gupta (DIN: 08649898) as a Non-Executive Independent Director, approved with 13 shareholders voting in favor representing 1,21,36,350 votes. Resolutions 2, 3, and 4 (Ordinary) approved material Related Party Transactions with Innovators Contracting Works Pvt Ltd (ICWPL), Innovators Building Products Pvt Ltd (IBPPL), and Cleantech Engineering Pvt Ltd (CEPL) respectively, with 100% approval in each case (varying from 1,09,87,635 to 1,18,21,950 votes). Only 11-13 shareholders participated in the e-voting, which is typical for small-cap companies where promoter groups hold the bulk of shares. The Scrutinizer was Priti Nikhil Jajodia (Jajodia & Associates), and the report was countersigned by Company Secretary Vedashri Chaudhari on April 1, 2025.
All resolutions received unanimous shareholder approval, signaling alignment between promoters and minority shareholders on board continuity and related-party dealings. The three related-party transactions with ICWPL, IBPPL, and CEPL — some of which are linked to the company's wholly-owned subsidiary's associates — may warrant monitoring by retail investors for arm's-length pricing and disclosure quality. No material price catalyst is expected as the outcomes were already broadly anticipated given the voting pattern.