Man Infraconstruction Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report.
MANINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Man Infraconstruction Limited conducted a postal ballot seeking shareholder approval for material related party transactions, with voting held from May 28 to June 26, 2025 and results declared on June 27, 2025. Of the 41,277,415 shares voted (only about 11% of outstanding shares), 61.03% voted in favor and 38.97% voted against, leading to the ordinary resolution being passed. Notably, promoters and promoter groups did not cast any votes since they were interested parties, and public institutions voted 95.30% against the proposal while public non-institutions voted 99.93% in favor. The scrutinizer was Mr. Himanshu S. Kamdar of M/s. Rathi & Associates, and the resolution was approved under Section 188 of the Companies Act, 2013 and SEBI Listing Regulation 23.
While the related party transaction has cleared the shareholder hurdle, the very low overall voter turnout of around 11% and overwhelming institutional dissent (95% of public institutions voted against) signal significant investor discomfort with the related party deal, which could weigh negatively on institutional sentiment and the stock in the short term.