As per Postal Ballot Notice dated May 3, 2025 sent to the shareholders for approval of 3 agenda items, please find attached voting results of the same conducted through remoting e-voting ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NHC Foods Ltd conducted a Postal Ballot via remote e-voting (May 6 – June 4, 2025) on 3 resolutions, with 48,683 shareholders on record. Of the ~59.28 crore total shares, only ~16% were polled, and promoters did not participate in voting. Resolution 1 (regularising appointment of Mr. Narayanan Ananthakrishnan Iyer as Non-Executive Independent Director) passed with 68.73% in favour. Resolution 2 (regularising appointment of Ms. Anisha Sukumar Sharma as Non-Executive Independent Director) passed with 68.64% in favour. Resolution 3 (special resolution to change Mr. Satyam Joshi's designation from Executive Director to Managing Director) failed, getting only 60.06% in favour versus the 75% needed for a special resolution.
The Managing Director elevation of Mr. Satyam Joshi has been rejected by shareholders, which is a significant governance setback for the company. The two Independent Director appointments have been approved, but the low voting participation (~16%) and absence of promoter votes highlight weak shareholder engagement. Investors should watch for the board's next steps on the failed MD appointment and potential governance or succession concerns.