Proceedings of Postal Ballot.
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Rich Universe Network Ltd announced the results of its Postal Ballot concluded on July 24, 2025, with all three resolutions passed with overwhelming shareholder approval (~99.99% in favour on each). The resolutions include: (1) an Ordinary Resolution to increase the Authorised Share Capital, (2) a Special Resolution to alter the Object Clause of the Memorandum of Association and adopt a new MoA, and (3) a Special Resolution to adopt a new set of Articles of Association aligned with the Companies Act, 2013. Out of 72.52 lakh total shares, only about 10.70 lakh (14.76%) were voted, and no invalid votes were recorded. The Scrutinizer submitted his report on July 25, 2025, and Managing Director Shashwat Agarwal declared the results.
The increase in authorised share capacity and change in the company's object clause signal that the company may be preparing for a potential fundraising, equity issuance, or a pivot into new business areas. Shareholders should watch for follow-up announcements on capital raising plans or business diversification, as these could lead to dilution or a shift in the company's core activities.