Nitco Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
NITCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nitco Limited conducted a postal ballot through remote e-voting (April 2 – May 1, 2026) for shareholder approval of a material related party transaction with M/s. Authum Investment & Infrastructure Limited. The resolution was passed as an Ordinary Resolution with overwhelming shareholder support: 47,33,710 votes in favour (99.95%) versus 2,533 votes against (0.05%). A total of 85 members participated in the e-voting process. The Scrutinizer, B. Durga Prasad Rai, certified the resolution as duly passed on May 1, 2026. Notably, the company disclosed that promoters/promoter group are interested in this agenda/resolution.
The approval of this material related party transaction with Authum Investment & Infrastructure Limited has been secured with near-unanimous support. However, the disclosed promoter interest in the resolution warrants scrutiny from minority shareholders regarding the fairness and terms of the transaction.