EGM resolution rejected - preferential warrant issue failed
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Resourceful Automobile held its 1st EGM on Oct 8, 2026. The special resolution to issue Convertible Equity Warrants via a Preferential Issue was rejected by shareholders. Out of 3,63,600 votes polled (all from public non-institutions), 100% voted against and 0% in favour. Promoters holding 16.31 lakh shares abstained from voting. With 0% support, the resolution failed as it did not get the required 75% majority needed for a special resolution.
Shareholders rejected the preferential warrant plan. Company must rework or drop this fundraising route. May cause short-term uncertainty for the stock.