Declaration of Voting Results and Scrutinizer Report of Extra Ordinary General Meeting of the Company held on Friday, March 06,2026.
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Suraj Industries Ltd held an Extra-Ordinary General Meeting on March 06, 2026 through video conferencing, where all four resolutions were passed with 100% votes in favour. Resolution 1 (Special) approved revising the limit for inter-corporate loans, investments, and guarantees to Rs. 500 crores, with 1.61 crore votes polled (33.24% of outstanding shares). Resolutions 2 and 3 (Ordinary) approved material related party transactions — the acquisition of shares of VRV Foods Limited from the promoter group and a rent agreement with material subsidiary Carya Chemicals and Fertilizers Pvt Ltd — with 56.6 lakh votes polled (11.68%), and promoters recused from voting on both. Resolution 4 (Special) approved altering the objects of the recent rights issue (Letter of Offer dated October 09, 2025) to allow reallocation of partly paid-up share proceeds, with 1.61 crore votes polled (33.24%). The company has both fully paid-up and partly paid-up equity shares, and voting was proportional to paid-up value. The scrutinizer was Vijay Jain & Co., Company Secretaries.
All four resolutions sailed through unanimously, giving the company clear shareholder approval to lend/invest up to Rs. 500 crores, proceed with the VRV Foods acquisition, formalise the Carya rent deal, and change the use of rights issue proceeds. This expands the company's financial flexibility and confirms promoter-aligned strategic moves, but the change in rights issue objects is a material event investors should monitor for how the funds will be redeployed.