VOTING RESULTS AND SCRUTINIZER REPORT
KOTIC · price
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Kothari Industrial Corporation Limited held its 55th Annual General Meeting on 26th September 2025 via video conferencing. Seven resolutions were put to vote, including adoption of audited financial statements for FY ended 31st March 2025, re-appointment of a retiring director, re-appointment of Mr. Rafiq Ahmed as Executive Chairman and Managing Director for 3 years, appointment of a new secretarial auditor, alteration of the object clause, approval of a material related party transaction with Phoenix Kothari Footwear Limited, and issuance of 17,11,068 equity shares on a preferential basis to non-promoters. All seven resolutions were passed with overwhelming majority, with over 99.99% of votes polled in favour. Total votes polled were 77,16,6474 (approximately 11.91% of outstanding shares of 9,37,33,105), against which only 1,077 to 1,079 votes were cast against. Out of 53,481 shareholders on the record date, 39 attended via video conference (7 from promoter group, 32 from public).
All AGM resolutions passed comfortably, reflecting broad shareholder support for management's proposals including leadership continuity, capital raising via preferential allotment, and expansion of business scope. The preferential issue of 17.11 lakh shares to non-promoters may lead to mild dilution for existing shareholders.