Voting Results and Scrutinizer''s Report for Postal Ballot Notice Dated April 01, 2025.
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Modern Insulators Limited announced the results of a postal ballot conducted from April 16 to May 15, 2025, for two special resolutions. Both resolutions — the appointment of Shri Animesh Banerjee (DIN: 07905214) and Shri P. Sridharan (DIN: 03100055) as Executive Directors — were passed with over 99.94% of votes in favour. The promoter group, holding 2.83 crore shares, voted 100% in favour, while public non-institutional shareholders mostly voted against (around 61-63% against). Out of 14,00,011 total shareholders, only about 32 voted. The scrutinizer was Ms. Anshika Gupta of Anshika & Associates, who certified the results on May 16, 2025.
Two new Executive Directors have formally joined the board with overwhelming promoter backing. However, retail public shareholders largely opposed both appointments, which could raise minor governance concerns about board composition choices. Stock price impact likely muted as the outcome was expected.