Please find attached the results of remote evoting on the resolutions along with Scrutinizers Report.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sunshield Chemicals held a Postal Ballot via remote e-voting from March 23 to April 21, 2025, with 4,827 shareholders on record. Out of 3 resolutions, 2 were passed and 1 was rejected. Resolution 1 (Special): Appointment of Prof. Aniruddha Pandit as Independent Director passed with 98.42% votes in favour. Resolution 2 (Special): Authorising creation of charges on company assets for borrowings also passed with 98.42% in favour. Resolution 3 (Ordinary): Material Related Party Transaction with Indus Petrochem Limited for FY 2025-26 was rejected because promoters (Indus Petrochem & Coppersmith Energies) were related parties and their votes were excluded — non-promoter shareholders voted 65.01% against it.
Independent director appointment and borrowing powers are approved, giving the board flexibility on funding. The rejection of the Indus Petrochem related-party transaction means the company needs shareholder approval before proceeding with that deal for FY26, which may delay or alter related-party arrangements with Indus Petrochem.