Revised Scrutinizer''s report for EGM held as on April 30,2026
Awaiting price reaction for this filing.
Satani Bearings Limited (formerly Deccan Bearings) held an Extra Ordinary General Meeting on April 30, 2026, via video conferencing. All 9 resolutions were passed with overwhelming shareholder approval (~99.999994% in favour). Key resolutions include: (1) Increase in authorised capital, (2) Borrowing powers enhancement under Section 180(1)(c), (3) Creation of charges/mortgages on assets under Section 180(1)(a), (4) Investment/loan/guarantee powers under Section 186, (5) Alteration of Object Clause of Memorandum of Association, (6) Stock split from Rs.10 face value to Rs.1 face value, (7) Adoption of new MoA, (8) Adoption of new AoA, and (9) Taking on record auditor's certificate under Regulation 45(3). Out of 747 total shareholders, 25 participated via VC. Total 16.76 million votes were cast representing 83.79% of outstanding shares.
The stock split from Rs.10 to Rs.1 face value will increase the number of shares 10-fold, making the stock more affordable and liquid for retail investors. The expanded borrowing and investment powers give management greater flexibility for future business expansion and funding. The near-unanimous approval indicates strong promoter backing.