Scrutinizer''s Report of Extra Ordinary General Meeting of the Company held on 30th April,2026
Awaiting price reaction for this filing.
Satani Bearings Ltd (formerly Deccan Bearings Ltd) held an EGM on April 30, 2026, where shareholders approved 9 resolutions including a share split from Rs.10 to Rs.1 face value, increase in authorised capital, enhanced borrowing powers up to Rs.500 crore, and adoption of new Memorandum and Articles of Association. All resolutions passed with overwhelming majority of 99.999994% in favour (only 1 vote against across all resolutions). Out of 747 total shareholders, 22 attended via video conferencing. Total votes polled represented 83.79% of outstanding shares. The company also got approval for creating charges on properties and making investments exceeding statutory limits under Section 186.
The share split from Rs.10 to Rs.1 will increase the number of shares 10-fold, making the stock more affordable and potentially improving liquidity. The expanded borrowing powers and investment limits give management greater financial flexibility for growth initiatives.