In terms of Regulation 44 of SEBI (LODR) 2015, please find enclosed herewith the details of e-voting results and Scrutinizers Report.
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Jagsonpal Finance & Leasing Limited announced the results of its Postal Ballot (e-voting held April 8 – May 7, 2025), with all six resolutions passed with overwhelming majority. The key resolutions include shifting the registered office from Delhi to Maharashtra (99.99% in favour), amending the MOA accordingly, and entering a Master Services Agreement with related party Elanistech Private Limited (97.95% in favour from public; promoters abstained). The remaining three special resolutions grant the board expanded authority under Section 180(1)(a) (asset dealings), Section 180(1)(c) (borrowings beyond existing limits), and Section 186 (loans, investments and guarantees beyond prescribed limits), each passed with 99.99% in favour. Promoters (holding 1.10 crore shares) voted 100% in favour on the non-related-party items. Total voting turnout was low at about 17% of the 1.82 crore outstanding shares, with only 41 shareholders actually casting votes across the items.
Shareholders have approved a major structural shift (office relocation to Maharashtra) and given the board significantly broader financial powers to borrow, lend and invest beyond statutory ceilings, along with a related-party deal. The near-unanimous promoter backing and low public turnout (~17%) mean these changes are effectively management-driven; retail investors should monitor the Elanistech related-party arrangement and any future borrowing or investment activity enabled by these new powers.