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 Limited has announced the results of its postal ballot voting conducted between April 1-30, 2026. Two resolutions were passed: (1) A Special Resolution approving investments, loans, guarantees and security in excess of Section 186 limits with 99.67% shareholder approval (8.31 crore votes in favor vs 27.55 lakh against); and (2) An Ordinary Resolution approving Material Related Party Transactions with Venwind Refex Power Limited (a subsidiary) with 90.41% approval. Notably, for Resolution 2, promoters abstained from voting as interested parties, and institutional investors voted against it (62.64% against) but public non-institutional shareholders overwhelmingly supported it (99.60% in favor). Total valid votes polled were 83.33 crore for Resolution 1 and 6.71 crore for Resolution 2.
Both resolutions passed with requisite majorities. The approval for higher investment limits gives the company flexibility for future financial decisions. The related party transaction approval with the subsidiary may attract regulatory scrutiny given institutional investor opposition, though the resolution is validly passed.