Shareholder Meeting/Postal Ballot-Scrutinizer Report
Awaiting price reaction for this filing.
Ratnakar Securities Limited (formerly Mangalya Soft-Tech Limited) held its 33rd AGM on December 15, 2025 in Ahmedabad. All 6 resolutions were passed with 100% votes in favor — 3 ordinary and 3 special resolutions. Key items included adoption of FY25 audited financial statements, reappointment of Mr. Ajay Jayantilal Shah as Director, approval of enhanced borrowing limits under Section 180(1)(c), creation of charges/mortgages, approval of inter-corporate loans and corporate guarantees, and appointment of a Secretarial Auditor. Attendance was thin with only 18 members voting physically and 2 via e-voting (3 invalid votes). The filing also notes that the company recently completed an NCLT-approved Resolution Plan and Amalgamation Scheme (June 2025), issuing new equity shares at a 5:1 ratio and 6% OFCRPS preference shares at 1:1, raising paid-up capital to ₹18.52 crore (equity ₹15.52 crore + preference ₹3 crore). Newly allotted equity shares are not yet listed on BSE.
The 100% approval on all resolutions shows decisive promoter-aligned voting, but the very thin public participation (just 433 public shares voted of the base of 2,431 shareholders) means retail shareholders effectively had negligible say. The enhanced borrowing limits, ability to create charges, and inter-corporate loan approvals give the board broad financial flexibility going forward. Shareholders should note that newly issued shares from the NCLT scheme are pending BSE listing, which could increase the float and potentially dilute existing holdings once listed.