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Neelkanth Limited conducted a postal ballot voting from April 28 to May 27, 2026, which resulted in all three resolutions being passed with overwhelming approval (99.9997% in favor). The key outcomes include: (1) amendment to the Articles of Association approved via special resolution, (2) appointment of Mr. Devidas Jayram Shejul as an Independent Director via special resolution, and (3) appointment of Mr. Bhavik Bhimjyani as Chairman & Managing Director via ordinary resolution. Out of 2,334 shareholders, only 37 members participated in voting, representing 72.42% of total shares (3,156,569 votes out of 4,359,000). Notably, the promoter group showed 99.94% participation while public non-institutions had very low participation at 5.67%.
The appointment of Mr. Bhavik Bhimjyani as CMD formalizes the leadership structure, and the AoA amendment suggests potential governance or operational changes ahead. Near-unanimous approval indicates strong promoter backing, but low retail participation warrants monitoring for future shareholder engagement.