International Conveyors Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
INTLCONV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
International Conveyors Limited has announced the results of its postal ballot conducted via e-voting from April 1 to April 30, 2026. Two resolutions were put to shareholders - both passed with overwhelming majority. First, a Special Resolution to approve advancing loans, giving guarantees, or providing security under Section 185 of the Companies Act, 2013 passed with 99.99% assent (4,71,63,947 votes in favor out of 4,71,68,462 total). Second, an Ordinary Resolution to approve material Related Party Transactions passed with 99.89% assent (34,61,636 votes in favor out of 34,65,610 total). The scrutinizer, CA Harsh Vardhan Bolia, confirmed both resolutions were duly passed with requisite majorities. Promoter group participated in voting for the Section 185 resolution but abstained from the Related Party Transaction vote due to their interest in that matter.
Shareholders have authorized the company to extend loans, guarantees, and security to other entities (Section 185 approval) and to enter into material transactions with related parties. These approvals remove potential governance hurdles for future business dealings but increase related party exposure for minority shareholders.