Pursuant to Regulation 44 (3) of SEBI (LODR) Regulations 2015 Kindly find the annexed Results of E-Voting prior to EOGM and at the EOGM
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KG Petrochem Ltd held an Extraordinary General Meeting on April 28, 2025, at 3:00 PM at its Jaipur corporate office. Two special resolutions were passed with 100% votes in favour and zero dissent. The first resolution approves enhanced limits for inter-corporate loans, guarantees, securities, and investments under Section 186 of the Companies Act, 2013. The second resolution approves transactions under Section 185 of the Companies Act, which deals with loans and advances to directors and related parties. Only 5 shareholders voted through remote e-voting (538,678 shares), representing just 10.32% of the total 52.21 lakh equity shares. Promoter group members were declared interested in both resolutions but did not cast any votes.
These approvals give the company broader authority to extend inter-corporate loans/investments and enter into Section 185 transactions, increasing financial flexibility but also raising related-party governance considerations for minority shareholders. Low voting turnout (only 5 public members participated) means the decisions effectively rest with a very small shareholder base, which is a red flag for governance transparency.