Postal Ballot - Scrutinizer Report.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Lykis Limited announced the results of its Postal Ballot conducted through e-voting, with the last date of receipt being October 20, 2025. Two resolutions were passed with the requisite majority. The first was an Ordinary Resolution to approve a material related party transaction with Lykis Exports LLC, and the second was a Special Resolution to allow the company to make investments, give loans, guarantees, and securities exceeding the limits under Section 186 of the Companies Act, 2013. Total votes polled stood at approximately 68.83% of outstanding shares (around 1.34 crore shares), with both resolutions passing at 97.85% in favour. Promoters holding 1.30 crore shares voted 100% in favour, while public non-institutional shareholders showed strong dissent — roughly 89% of the public votes cast were against both resolutions. The scrutinizer was Komal Birmiwala, Practicing Company Secretary.
Both resolutions are approved and now in effect, giving the company board wider financial flexibility and clearance for the related party transaction with Lykis Exports LLC. However, the overwhelming rejection by public shareholders (~89% against) signals significant minority dissent, which could weigh on retail sentiment and raise governance concerns despite regulatory approval.