Please find herewith the scrutinizer report for the Annual General Meeting to be held on 26th September, 2025
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Scintilla Commercial & Credit Ltd held its Annual General Meeting on 26th September 2025 from 3:00 PM to 3:45 PM, where all 6 resolutions were passed. The resolutions included adoption of FY25 financial statements, re-appointment of Mr. Jitendra Kumar Goyal as director by rotation, appointment of M/s Surajit Roy and Associates as statutory auditors for 5 years, appointment of Mr. Anand Khandelia as secretarial auditor for 5 years, approval of material related party transactions, and appointment of Mrs. Meena Agarwal as Non-Executive Independent Director for 5 years. Out of 2,021 total shareholders on record date, only 136 public shareholders attended in person; no promoter representatives attended. Total voting participation was about 21.60% of outstanding shares (2,166,021 votes), with promoters contributing 1,886,489 votes all in favor. While the financial statements resolution passed with near-unanimous support (99.99%), the other five resolutions faced notable public dissent with 132,505 votes against (about 47% of public votes cast), though they still passed with 93.88% overall support.
All routine AGM items were approved and the meeting completed in just 45 minutes, indicating straightforward proceedings. However, the relatively high public shareholder dissent (around 6% of total votes against) on director re-appointment, auditor appointments, and related party transactions signals some minority shareholder disagreement that retail investors should monitor, especially regarding the related party transactions approval which carries governance implications.