Postal Ballot Results along with Scrutinizers Report
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
JOJO Ltd (formerly Madhuveer Com 18 Network Limited) has announced results of its postal ballot conducted via remote e-voting between April 22, 2026 and May 22, 2026. Two special resolutions were passed with overwhelming shareholder approval. Resolution 1 approved a Material Related Party Transaction involving acquisition of business on slump sale basis, with 9,348,906 votes in favor (99.9999%) and only 1 vote against out of 1,550 registered shareholders. Resolution 2 approved the re-appointment of Mr. Dipankar Bhuvneshwar Mahto as Independent Director for 3 years with identical voting results. The scrutinizer, Mrs. Rupal Patel (Practicing Company Secretary), confirmed both resolutions passed as per statutory requirements under the Companies Act, 2013 and SEBI LODR Regulations, 2015.
The approval of the business acquisition via slump sale represents a significant corporate action that could impact the company's future revenue and operations. The re-appointment of the independent director maintains board continuity and governance standards. Despite low voter turnout (~0.84% of shareholders participated), the outcomes carry legal validity as the voting thresholds were met.