Scrutinizer report on evoting results of the EGM held on 07th April 2025
Awaiting price reaction for this filing.
Binny Limited held an Extra-Ordinary General Meeting (EGM) on 7th April 2025 via video conferencing, where shareholders approved all 5 resolutions with overwhelming support. Resolution 1 (re-designation of Mr. Satyanarayanan Balakrishnan as Whole-Time Director for 5 years) passed as an Ordinary Resolution with 99.86% votes in favour. Resolutions 2 to 5, all Special Resolutions, covered re-designation of Mr. Shankaran Sundar Raman as Independent Director (3 years) and appointment of three new Independent Directors — Mr. R. Subramanian, Mr. N. Kumaraguru, and Mr. Ramamurthy.N — each for 3-year terms. Each resolution received 99.86% favourable votes against just 0.14% against. Promoters (holding 1,25,43,626 shares) voted 99.95% in favour across all items, while public non-institutions polled 45.12% of their holding, with 99.59% voting in favour. The scrutinizer was CS I B Harikrishna of IBH & Co.
The company has successfully strengthened its board by adding three new independent directors and formalising the re-designation of existing directors, reflecting strong promoter and shareholder confidence. With near-unanimous approval, the resolutions are unlikely to trigger any governance concerns or stock price volatility.