Outcome of Postal Ballot
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Intec Capital Ltd conducted a postal ballot (remote e-voting from May 1 to May 30, 2025) to seek shareholders' approval for one ordinary resolution: authorising its wholly owned subsidiary Amulet Technologies Limited to avail loans from Mr. Sanjeev Goel, treated as a material Related Party Transaction. Out of 2,115 total shareholders on record (holding 1.83 crore shares), only public non-institutional shareholders participated — 34 members polled 41.22 lakh shares (about 22.4% of total equity), voting 99.99% in favour and just 311 shares (0.0075%) against. Promoters, promoter group, and institutional public shareholders did not cast any votes. The scrutinizer confirmed the resolution was passed with the requisite majority.
The subsidiary Amulet Technologies can now borrow from Mr. Sanjeev Goel, giving it access to promoter-backed funding. However, promoters themselves abstained from voting and only ~22% of equity participated, so while the resolution is technically passed, it was on a low turnout and without promoter vote — shareholders should note this is a related-party arrangement.