Scrutinizer''s report for the 46th Annual General Meeting
Awaiting price reaction for this filing.
Modern Denim Limited held its 46th AGM on September 30, 2024, where all four resolutions were passed with 100% approval. The resolutions included: (1) adoption of audited financial statements for FY ending March 31, 2024, (2) re-appointment of Shri Kedar Mal Ladha as a director (retiring by rotation), (3) re-appointment of Shri Sachin Ranka as Chairman & Managing Director, and (4) increase in the overall borrowing limit of the company. A total of 13,717,580 valid votes were cast by 37 members (4 via remote e-voting and 33 via physical poll), with zero votes against any resolution and zero invalid votes. The scrutinizer was Jyoti Soni and Associates, Practicing Company Secretaries.
Unanimous approval of all resolutions signals strong shareholder confidence in management, with no opposition on any agenda item. The approval to increase the borrowing limit gives the company greater financial flexibility for future growth or operational needs.