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 6, 2026 via video conferencing, where all four resolutions were passed with the requisite majority. Resolution 1 (Special) raised the limit for inter-corporate loans, investments, and guarantees to Rs. 500 crores under Section 186, with 100% votes in favor. Resolution 2 (Ordinary) approved a material related party transaction to acquire shares of M/s VRV Foods Limited from promoter group entities. Resolution 3 (Ordinary) approved a related party rent agreement with Carya Chemicals and Fertilizers Pvt Ltd, a material subsidiary. Resolution 4 (Special) approved changing the objects of the recent rights issue (partly paid-up shares) for reallocation of net proceeds from the October 2025 Letter of Offer. The cut-off date was February 27, 2026, and voting was conducted via remote e-voting and e-voting at the EGM through CDSL.
Shareholders have cleared the company to deploy up to Rs. 500 crores in loans/investments and to proceed with promoter-group acquisitions and related-party transactions, which could expand business scope but also raises governance concerns due to promoter interest in most resolutions. Reallocating rights issue proceeds signals a shift in planned use of capital, which investors should monitor for execution and returns.