Please find enclosed Voting Results along with Scrutinizer''s Report for the 31st AGM of the Company held on 12th June, 2025.
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Purple Finance Limited held its 31st Annual General Meeting on June 12, 2025 via video conferencing, where shareholders voted on 19 resolutions, all of which were passed with the requisite majority. Most resolutions — including adoption of audited financial statements, reappointment of directors, increase in authorized share capital, alteration of Articles of Association, ESOP 2022 ratification and amendments, borrowings powers, and approval to issue Non-Convertible Debentures on private placement basis — passed with nearly 100% approval. However, the resolution to increase remuneration of Executive Chairman Amitabh Chaturvedi saw notable dissent with 14.24% of votes against (85.76% in favor). Similar, though smaller, dissent was recorded on CEO Sabyasachi Rath's and Executive Director Rajeev Deoras' compensation (around 7% against). The Material Related Party Transactions resolution had 14.37% of votes classified as invalid, cast by interested promoter-related parties. On a record date base of 3,225 shareholders, only about 78 shareholders participated in the voting.
All governance and capital-related items including ESOP amendments, higher borrowing limits, and NCD issuance have been cleared, giving the company flexibility to raise funds and reward employees. The 14% dissent against the Executive Chairman's pay hike signals some shareholder discomfort with executive remuneration, which investors should monitor as a potential governance concern.