Regulation 44 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 - Intimation of E-voting Results of Postal Ballot & Scrutinizer''s Report
REFEX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Refex Industries Ltd successfully passed two resolutions through postal ballot e-voting which ended on April 30, 2026. Resolution 1 (Special) approved making investments, giving loans, guarantees and providing security in excess of Section 186 limits, passing with 99.67% shareholder approval (8.31 crore votes in favor vs 27.55 lakh against). Resolution 2 (Ordinary) approved Material Related Party Transactions with Venwind Refex Power Limited, a subsidiary, passing with 90.41% approval (60.64 lakh votes in favor vs 6.43 lakh against). Notably, promoters abstained from voting on Resolution 2 due to their interest in the transaction, while public institutions showed significant opposition (62.64% voted against Resolution 2). Total paid-up capital was INR 27.44 crore across 13.72 crore equity shares.
Both resolutions passed with requisite majorities. The related party transaction with the subsidiary may raise governance concerns given significant institutional opposition. The Section 186 approval gives the company flexibility for future investments and financial support to group entities.