Scrutinizer report on Postal Ballot
MERCANTILE · price
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Mercantile Ventures Ltd conducted a postal ballot through remote e-voting from November 17 to December 16, 2025, to seek shareholder approval for two resolutions. Both resolutions were passed with near-unanimous support. Resolution 1 (Ordinary) approved the appointment of Mr. N Umasankar (DIN: 07975664) as Director, and Resolution 2 (Special) approved his appointment as Whole-time Director (Finance) & CFO. Out of 11.19 crore outstanding shares, approximately 10.06 crore votes (89.89%) were polled, of which 100,600,944 votes (99.9998%) were in favour and only 202 votes were against. The Scrutinizer, M/s. KRA and Associates, confirmed that both resolutions were passed with the requisite majority. Promoters (holding 8.14 crore shares) voted 100% in favour of both resolutions.
Mr. N Umasankar is now formally appointed as Director and Whole-time Director (Finance) & CFO of Mercantile Ventures Ltd, strengthening the company's leadership team. The overwhelming shareholder approval signals strong confidence in the appointment, though the stock is not listed on NSE.