Solar Industries India Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
SOLARINDS · price
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Solar Industries India Limited has submitted the voting results and Scrutinizer's Report for a Postal Ballot conducted between January 24, 2026 and February 23, 2026. The single resolution was the appointment of Shri Ramesh Madhavrao Bhujang (DIN: 00194189) as an Independent Director, which required a Special Resolution. Out of 1,15,072 shareholders on record, 956 cast votes, with 92.90% of outstanding shares (8.40 crore shares) participating. The resolution received 63.71% votes in favour and 36.29% against, falling short of the requisite majority for a special resolution. Notably, the promoter group itself split 60% in favour and 40% against, while public institutional holders voted 76.57% in favour and retail public shareholders voted 99.91% in favour. Despite failing the special resolution threshold, under Regulation 25(2A) of SEBI Listing Regulations, since votes in favour exceeded votes against both overall and among public shareholders, Shri Bhujang is deemed to be appointed as Independent Director.
Shareholders should note that the director appointment technically failed the special resolution threshold but was saved by a SEBI deemed-appointment rule. The significant dissent from the promoter group (40% voting against) and overall low margin of approval could raise governance concerns among institutional investors, though it does not materially change the company's operations or financial position.