Outcome of Postal Ballot, Disclosure of Voting Results of Postal Ballot through remote e-voting & Scrutinizer''s Report
NITCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nitco Limited has announced the results of its Postal Ballot conducted through remote e-voting for approving a Material Related Party Transaction with M/s. Authum Investment & Infrastructure Limited. The Ordinary Resolution was passed with overwhelming shareholder approval, with 47,33,710 votes (99.95%) in favour and only 2,533 votes (0.05%) against. Notably, the Promoter and Promoter Group did not participate in the voting (0 votes), indicating independence in the approval process. A total of 85 shareholders participated in the voting, and the resolution is deemed passed as of May 1, 2026, the last date for e-voting.
The approval of this related party transaction enables Nitco to proceed with business dealings with Authum Investment & Infrastructure Limited. The strong shareholder backing (99.95%) and promoter non-participation suggests minority shareholders viewed the transaction favourably and independently.