MIRC Electronics Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on April 29, 2026
MIRCELECTR · price
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MIRC Electronics Limited (the company behind the Onida brand) held an Extraordinary General Meeting on April 29, 2026, via video conferencing, and submitted the Scrutinizer's Report to the stock exchanges on April 30, 2026. Two special resolutions were passed with overwhelming shareholder approval (over 99.99% in favour). The first resolution approved granting Employee Stock Options (ESOPs) to CEO Mr. Gunjan Srivastava equal to or exceeding 1% of the company's issued capital under the MIRC ESOP Plan 2023, with 228,777,160 votes in favour and just 1,370 against. The second resolution approved a change of the company's name along with consequential amendments to the Memorandum and Articles of Association, with 228,778,416 votes in favour and only 114 against. The report was certified by scrutinizer Mr. Mahesh Darji of Nilesh Shah and Associates, Practicing Company Secretaries.
The CEO-level ESOP grant of over 1% of issued capital is a significant dilution signal for existing shareholders but aligns top management incentives with company performance. The proposed name change is a noteworthy event that may signal a rebranding move away from the legacy Onida identity, and investors should watch for the new name and strategic direction it implies.