Scrutinizer Report and Voting Result
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Pratiksha Chemicals held an Extraordinary General Meeting on 20 February 2026 and all 12 special resolutions were passed with 100% votes in favour and none against. The resolutions covered amendments to the Object Clause and Capital Clause of the Memorandum of Association, appointment of Mr. Sumit Harjibhai Gol as Managing Director, regularisation of three directors (Messrs Kishan Mendapara, Kalpesh Kamani, and Ms Khushbu Nadapara), increase in authorised share capital, higher borrowing limits, board authorisation to sell/lease the undertaking, higher investment/loan/guarantee limits, change of company name, and issuance of equity shares and fully convertible warrants on a preferential basis. Voting turnout was very low at about 3.39% of outstanding shares (188,582 votes polled out of 55,70,340 shares), with promoters not casting any votes.
Shareholders have approved a major corporate overhaul at the EGM, including a possible name change, a preferential equity/warrant issue (likely to dilute existing holders), higher debt and investment limits, and key leadership changes. The very low voting turnout — with promoters abstaining and only ~3.4% of shares voting — means approval was carried by a small fraction of public shareholders, which may dilute existing retail holders once the preferential issue goes through.