Find Attached Voting Results of Postal Ballot Notice dated October 16,2025 along with Scrutinizer Report.
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Manoj Jewellers Ltd conducted a postal ballot (via remote e-voting from Oct 20 to Nov 18, 2025) seeking shareholder approval for three special resolutions to increase the remuneration of its promoter-directors: Mr. Manoj Kumar (Chairman & MD), Mr. Sunil Kumar (Executive Director), and Mrs. Raj Kumari (Whole Time Director). All three resolutions were passed with 98.37% of votes in favour (242,000 shares) against just 1.63% (4,000 shares). However, shareholder participation was very low — only 246,000 shares (2.74% of the total 8,985,628 outstanding shares) were voted. Notably, the promoter group holding 5,865,629 shares did not cast any votes, and they are classified as interested parties in these resolutions. Voting was conducted among public non-institutional shareholders only, with just 12 members participating out of 463 total shareholders.
Higher payouts to the promoter family are now approved, which may be viewed negatively by minority shareholders given the related-party nature and the fact that promoters themselves abstained from voting. The extremely low public participation (under 3% of share base) means these decisions effectively rest on a very small minority vote base, raising some governance concerns.