MERCURYEV · price
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Mercury Ev-Tech Ltd has disclosed the results of its Postal Ballot, with all 9 resolutions passed by shareholders with the requisite majority. Six ordinary resolutions covered ratification of related party transactions for FY 2024-25 and approval of future material RPTs with five group companies: Sunbuy Renewables Ltd, DC2 Mercury Cars Pvt Ltd, Powermetz Energy Pvt Ltd, Traclaxx Tractors Pvt Ltd, and Finmer Electric Fintech Pvt Ltd. Three special resolutions authorized the Board to sell/lease company assets (Section 180(1)(a)), raise borrowings (Section 180(1)(c)), and make loans, guarantees and investments in other bodies corporate (Section 186). Remote e-voting ran from May 31 to June 29, 2025, and all resolutions secured over 99.9% approval. Of the 65,020 shareholders on record, only 232 participated, with the promoter group accounting for 83.25% of votes cast.
Shareholders have cleared the way for multiple related party transactions and granted the Board broad borrowing, investment and asset-disposal powers. Very low public shareholder turnout (0.36%) and promoter dominance mean outcomes were largely a foregone conclusion, with minimal independent retail influence on these governance decisions.