Scrutinizer report for the AGM held on 31st July 2025
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New Markets Avenue Ltd (referred to as 'New Market Advisory Limited' in the filing) held its 43rd AGM on 31st July 2025, where all 12 resolutions were passed with 100% votes in favour. Combined e-voting and poll results showed 10,79,400 valid votes cast in favour, with zero votes against and zero invalid votes. Key resolutions included adoption of FY25 audited financial statements, re-appointment of directors (including Whole-time Director & CFO Kishore Kanhaiyalal Jain), and notably, special resolutions to change the company's name, increase authorised share capital, change the object clause of the MOA, raise borrowing limits under Section 180(1)(c), and issue 0% convertible equity warrants on a preferential basis to non-promoter persons/entities. E-voting was conducted via NSDL from 28th to 30th July 2025, with cut-off date of 25th July 2025.
The unanimous approval signals strong shareholder support for strategic changes — particularly the name change, business object clause amendment, and upcoming preferential equity warrant issue to non-promoters, which points to a potential fundraising round and possible business diversification. Shareholders should watch for the new name, revised capital structure, and any further announcements on the warrant conversion.