Result of Postal Ballot by remote e-voting process and submission of Scrutinizer''s Report
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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SGL Resources Ltd conducted a postal ballot (remote e-voting) that ended on May 22, 2025, for five key resolutions including appointment of a new statutory auditor (M/s Manoj Acharya & Associates) to fill a casual vacancy caused by the previous auditor's resignation, and appointment of four directors (two non-executive non-independent and two non-executive independent). All five resolutions were rejected by shareholders, with only 26.93% voting in favour and 73.07% voting against (representing roughly 47% of total paid-up equity capital that participated in voting). None of the resolutions — ordinary or special — received the required majority to pass.
This is a significant negative governance event. The company has failed to appoint a statutory auditor for FY24-25, leaving an unresolved casual vacancy, and its four proposed director appointments have been turned down by shareholders. The overwhelming 73% dissent signals deep shareholder dissatisfaction with the board's choices, raising concerns about corporate governance and creating regulatory/compliance uncertainty for the company.