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Adarsh Mercantile Ltd (BSE Scrip Code: 538563) announced the results of its postal ballot (remote e-voting) held between April 13 and May 12, 2025. Out of 66 shareholders on record date (March 31, 2025) holding 36,75,000 shares, all 13 special resolutions were passed with overwhelming majority — 99.99% votes in favour for 12 resolutions and 99.97% for the 13th. The key resolutions include appointment of Mr. Ajay Jaiswal as Managing Director, Mr. Vishal Jaiswal as Whole Time Director, Mr. Ashok Jaiswal as Chairperson, and three independent directors including a women director. Other major resolutions cover alteration of the object clause of MOA, change in the company's name, shifting of registered office from West Bengal to Madhya Pradesh, and an increase in borrowing limits and powers to create charges on assets. Scrutinizer Nuren Lodaya & Associates confirmed the results on May 14, 2025.
Shareholders should note a major corporate restructuring: the company is changing its name and shifting its registered office from Kolkata (West Bengal) to Indore (Madhya Pradesh), along with a significant board reshuffle and expanded borrowing powers. The near-unanimous approval (~99.99% in favour) indicates strong promoter control with minimal public shareholder opposition, suggesting no major governance concerns from minority holders.