Man Infraconstruction Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot, Voting Results along with Regulation 44.
MANINFRA · price
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Awaiting price reaction for this filing.
Man Infraconstruction Limited has announced the results of its postal ballot conducted for seeking shareholder approval for Related Party Transactions. The resolution, which is an Ordinary Resolution under Section 188 of the Companies Act, 2013, was passed with the requisite majority. Of the 5,04,33,496 valid shares voted, 82.97% (4,18,47,107 shares) voted in favor while 17.03% (85,86,389 shares) voted against. Promoters and Promoter Group, being interested parties, did not participate in the voting. Notably, Public Institutional investors were nearly split, with 50.40% voting against, while Public Non-Institutional shareholders overwhelmingly supported the resolution at 99.96% in favor. The scrutinizer, Mr. Himanshu S. Kamdar of M/s Rathi & Associates, submitted the report on September 26, 2025.
Shareholders have approved the company's Related Party Transactions framework, giving the Board and Audit Committee the flexibility to enter into and modify material arrangements with related parties without further member approval. The mixed institutional vote (slight majority against) signals some governance concern, though the resolution passed comfortably overall and is unlikely to materially affect the stock price.