Oswal Agro Mills Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report.
OSWALAGRO · price
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Oswal Agro Mills has announced the results of a postal ballot conducted via remote e-voting between July 16 and August 14, 2025. Three special resolutions were put to shareholders, and all three were passed with the required majority. The first resolution rescinds the earlier approval that made Mr. Shael Oswal (DIN: 00256956) the Managing Director of the company. The second resolution approves his new appointment as Non-Executive, Non-Independent Director and Vice Chairperson. The third resolution approves the payment of his annual remuneration in this new non-executive role. Across all three resolutions, roughly 78% of valid votes were cast in favour (about 2.47 crore shares) while about 22% were cast against (around 68.8 lakh shares), based on 321 shareholders voting. One member holding 5,60,26,460 shares had their votes declared invalid across all resolutions.
Mr. Shael Oswal is being moved out of the executive Managing Director role into a non-executive Vice Chairperson position, which changes his day-to-day involvement in the company. The resolutions were passed comfortably, but the roughly 22% dissent from voting shareholders is worth flagging, as it suggests a meaningful minority of investors were not in agreement with the restructuring and his remuneration.