Please find enclosed the outcome of Postal Ballot
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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.
Nirav Commercials Ltd has announced the results of its Postal Ballot, with both resolutions approved by shareholders on March 6, 2026. Resolution 1 (Special Resolution) was the approval for sale of the company's undertaking to Hind Aluminium Industries Limited, passed with 97.97% votes in favour (26,305 votes) and only 2.03% against (545 votes). Resolution 2 (Ordinary Resolution) approved material related party transactions between the company and Hind Aluminium Industries Limited, also passed with the same voting pattern of 97.97% in favour. Notably, the promoter and promoter group (holding 203,635 shares or about 52% of total shares) did not participate in the voting as they were classified as interested parties, and only public non-institutions cast their votes. Total shareholder turnout was low at 6.85% of outstanding shares (26,850 out of 392,000).
This is a significant corporate event - the company is selling its undertaking (likely its main business/assets) to a related party, Hind Aluminium Industries Limited. Shareholders should monitor further disclosures on the sale consideration, valuation, and the impact on remaining business operations. The low voting turnout and promoter abstention means the resolutions were approved solely by public non-institutional shareholders representing just 14.25% of public shareholding.