Postal Ballot Results declared on 06th Nov 2025
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Awaiting price reaction for this filing.
Satchmo Holdings Limited announced postal ballot results on November 6, 2025 for the re-appointment of Mr. Kumar Nellore Gopalakrishna (DIN: 07197031) as an Independent Director for a second term. Out of 118 shareholders who voted, 105 voted in favour with 6,58,09,845 valid votes (99.9782%), while 12 voted against with just 14,352 votes (0.0218%). The promoter group's votes (6,52,73,350 shares) were treated as invalid under SEBI Regulation 37A since they are not eligible to vote on appointment of independent directors. Among public non-institutional shareholders, 97.39% voted in favour and 2.61% voted against. The resolution was declared passed with the requisite majority.
The re-appointment of an Independent Director has no direct material impact on the stock price but ensures board continuity and compliance with SEBI's requirement for independent directors. The resolution passed with overwhelming shareholder support, including from public non-institutional shareholders (97.4% in favour), reflecting strong confidence in the board composition.