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Mihika Industries held its AGM on 29 September 2025 via video conferencing, completing in just 11 minutes. Four resolutions were put to vote and all passed with overwhelming support. Two were ordinary resolutions — adoption of the FY25 audited financial statements and the re-appointment of director Mr. Parth Rajeshbhai Rupareliya, who retires by rotation. Two were special resolutions — one granting the board authority to sell, lease or dispose of the company's whole or substantially whole undertaking, and another conferring powers under Section 186 of the Companies Act, 2013 (related to loans, investments and guarantees). Overall voting turnout was about 58% of outstanding shares, with promoters (holding ~47% of equity) voting 100% in favour on all resolutions, and public non-institutional shareholders approving each resolution by over 99.4%.
The two special resolutions are the key takeaway for shareholders — they hand the board wide authority to divest business assets and to make inter-corporate loans or investments, which could materially change the company's risk profile. Approval rates are very high, so no shareholder rebellion, but the relatively low public turnout (~20.6% of public shares voted) means a small group of public holders effectively greenlit these powers.