Hereby attached Outcome of Postal Ballot of Mangalam Industrial Finance Limited
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Mangalam Industrial Finance Ltd has announced the outcome of its postal ballot conducted through e-voting, with all 25 ordinary resolutions passed with the required majority. Every resolution relates to the approval of Material Related Party Transactions under Section 188 of the Companies Act, 2013, involving 25 different related parties including individuals (Mr. Yatin Sanjay Gupte, Mr. Sojan Vettukallel Avirachan, Mr. Venkata Ramana Revuru, Mrs. Sheetal Bhalerao, Yatin Gupte HUF) and a wide range of companies, many from the Wardwizard group (Wardwizard Innovations & Mobility, Wardwizard Foods and Beverages, Wardwizard Medicare, Wardwizard Healthcare, Wardwizard Foundation, Wardwizard Renewable Energy, Wardwizard Entertainment, Wardwizard Global Pte. Ltd., Wardwizard Properties Holdings, Wardwizard Solutions India), as well as Aevas Business Solutions, Garuda Mart India, I Secure Credit and Capital Services, Bluebells Insurance Broking, Dhanwanthari Health and Wellness, J Z Hospitality, The Square Foot Company, Dhawin & Associates, LCL Aviation, and Kolumbus Medicare Services. The e-voting window closed on April 11, 2025, and the scrutinizer submitted its report on April 15, 2025. The promoter and promoter group (holding 59,30,67,810 shares, about 61.7% of equity) were interested in all resolutions and abstained from voting. Only 27,16,202 shares (about 0.28% of total outstanding equity) were polled by the public, with each resolution receiving between roughly 89.8% and 91.1% votes in favour and around 8.9% to 10.2% against. Total shareholders on record date (March 7, 2025) were 1,59,366.
All 25 related-party transactions have shareholder approval, clearing the way for the company to enter into material deals with this broad list of related parties, including many Wardwizard-group entities. Voting turnout from non-promoter shareholders was very low (only ~0.28% of outstanding shares), so retail shareholders should note that roughly 9-10% of votes polled were against each resolution, signalling some minority dissent on the RPTs.