Vorting Results of the 9th Annual General Meeting.
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Space Incubatrics Technologies Limited held its 9th AGM on September 6, 2025, at its registered office in Ghaziabad. All 7 resolutions were passed with requisite majority. Resolutions included adoption of FY25 audited financials, re-appointment of Mr. Nishant Mittal (DIN: 02766556) as director retiring by rotation, and five special resolutions covering sale of company property and motor vehicles to directors/promoter family members, approval of material related party transactions, investments/loans beyond Section 186 limits, and borrowing powers under Section 180(1)(a). Overall voter turnout was very low at just 12.88% of total equity shares (3.46 crore shares outstanding). Promoters (holding 44.42 lakh shares, ~12.83%) did not vote on related-party resolutions due to conflict of interest.
Routine resolutions like financial adoption and borrowing authorisations passed with near-unanimous support (98-99%). However, the related-party sale resolutions (property and vehicle sale to the Mittal family) drew notable 22.62% dissent from public shareholders, which may flag corporate governance concerns for retail investors despite passing. The extremely low public participation (~13% of shares polled) means a small group of shareholders effectively decided these outcomes.