Setco Automotive Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on April 25, 2026. Further, the company has informed the Exchange regarding voting results.
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Setco Automotive Limited held an Extraordinary General Meeting on April 25, 2026, where all four resolutions were approved by shareholders. The meeting passed an ordinary resolution approving a transaction and execution of related documents, along with three special resolutions covering disposal of equity in material subsidiary Setco Auto Systems Private Limited, alteration of the Object Clause in the Memorandum of Association, and change of company name with corresponding amendments to MOA and AOA. Voting was conducted via remote e-voting (April 22-24, 2026) and physical ballot at the venue. All resolutions received overwhelming support with approximately 99.99% votes in favour. Overall voter turnout was low at 8.32% of total shares, though public non-institutional shareholders showed higher participation at 20.42%.
Shareholders approved significant corporate actions including potential disposal of a material subsidiary and a company name change, indicating strategic restructuring. The near-unanimous approval suggests confidence in management decisions, though low overall participation means decisions were largely driven by controlling shareholders.