Outcome cum Proceeding of EGM dated April 30,2026
Awaiting price reaction for this filing.
Satani Bearings Ltd (formerly Deccan Bearings Ltd) held an Extra Ordinary General Meeting on April 30, 2026 via video conference. The meeting, chaired by Whole Time Director Tanuj Pareshkumar Satani, was attended by 22 members along with all Directors, KMP and Scrutinizer. Nine resolutions were taken up for shareholder approval through remote e-voting and e-voting during the EGM, conducted by Purva Sharegistry. The resolutions included an increase in authorised capital, enhancement of borrowing powers up to Section 180 limits, authority for investments and loans beyond Section 186 limits, alteration of the Object Clause in the Memorandum of Association, adoption of new MOA and AOA, and a share split reducing face value from Rs. 10 to Rs. 1. Voting results will be communicated to BSE after the Scrutinizer's report is received.
The share split from Rs. 10 to Rs. 1 will increase the number of shares outstanding, making the stock more affordable for retail investors. The increase in authorised capital and borrowing powers signals potential future expansion or business activity. Shareholders should monitor the voting results for confirmation of all resolutions passing.