NRB Industrial Bearings Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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NRB Industrial Bearings has disclosed the results of a postal ballot conducted via e-voting between 25 February 2026 and 26 March 2026. The single special resolution was to extend the redemption period of 2% cumulative, redeemable, non-convertible preference shares, with promoter/promoter group declared as interested in the resolution. Total shares outstanding stood at 24,230,650, but only 723,147 votes (about 2.98%) were polled, with 99.94% in favour and 0.06% against. The promoter group, holding 18,111,794 shares, did not participate in the voting. The resolution was passed with the requisite majority as confirmed by scrutinizer J.J. Gandhi & Co.
The extension of the preference share redemption timeline delays the company's obligation to repay preference shareholders, easing short-term cash outflows. However, the extremely low public voter turnout (just 2.98% of outstanding shares voted) and non-participation by promoters despite being a related party may raise governance concerns among minority shareholders, though the resolution comfortably passed.