Kundan Minerals and Metals Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on May 06, 2025
Awaiting price reaction for this filing.
Kundan Minerals and Metals Limited has filed the Scrutinizer's Report on voting results of its 1st Adjourned EGM for FY 2025-26, originally called on May 6, 2025 but adjourned to May 13, 2025 due to lack of quorum. A total of 9,230 votes were exercised across 7 resolutions. Two ordinary resolutions — appointment of the statutory auditor for FY 2025-26 and approval of material related party transactions with Kundan Refinery Private Limited — passed unanimously with 100% votes in favor. Five special resolutions covering Section 185 (loans, guarantees, security), Section 186 (limits on loans and investments), Section 180(1)(c) (overall borrowing limits), related party loans under SEBI LODR Regulation 23, and inter-corporate loans passed with 98.81% in favor (9,120 votes) and only 1.19% against (110 votes). No invalid votes were recorded, and e-voting was conducted via NSDL.
Shareholders have broadly approved the company's plans to raise or expand borrowing limits and engage in related party transactions with group entities. The wide margin of approval (no opposition on ordinary resolutions, minimal dissent on special resolutions) reduces the risk of regulatory or shareholder pushback, though the low overall voter turnout (9,230 votes) suggests limited retail participation. The approval of related party loans and transactions with Kundan Refinery Private Limited is the key governance point to watch.