Submission of Scrutinizer Report on Postal Ballot voting through E-voting conducted by the Company held pursuant to Postal Ballot notice dated 28th March, 2026
SALSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
S.A.L. Steel Ltd has completed its postal ballot voting process conducted between 18th April 2026 and 17th May 2026 via NSDL e-voting platform. A special resolution seeking approval for overall borrowing limits and authorization to the Board to create mortgages/charges on company assets was passed with overwhelming majority. Out of 118 participating shareholders representing 4,36,67,158 total votes, 99.99% (4,36,63,312 votes) were cast in favour, while only 0.01% (3,846 votes) were against. The resolution was approved as a Special Resolution requiring requisite majority under the Companies Act, 2013.
The passage of this special resolution gives the board flexibility to raise funds through borrowing and pledge company assets as security. This is generally a routine financial authorization that enables the company to meet working capital needs and fund expansion without needing immediate shareholder approvals for each borrowing decision.