Voting Results of the Postal Ballot through Remote E-voting
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Awaiting price reaction for this filing.
Spice Islands Industries Limited conducted a postal ballot (voting period: May 1 to May 30, 2025) to seek shareholder approval for three related party transactions: with Ladhukara Trust (promoters are interested), Ferry Automotive Private Limited, and Chapra Capital Ventures Private Limited. All three ordinary resolutions were passed with the requisite majority — 96.83% in favour (3,144 shares from 44 members) versus 3.17% against (103 shares from 3 members). The total share base is 43 lakh, but voting turnout was extremely low at just 0.074% (3,191 shares). Notably, the promoter group holding 26.87 lakh shares did not cast any votes on these resolutions, likely because they were considered interested parties for Resolution 1 (Ladhukara Trust). The Scrutinizer (Alok Khairwar & Associates) confirmed the results on May 31, 2025.
All three related party transactions have been formally approved by shareholders and the company can now proceed with them. The resolutions are routine compliance items under SEBI listing rules and are unlikely to cause any meaningful stock price movement, though the very low shareholder turnout reflects limited engagement typical of thinly-traded small-cap stocks.