Voting Results and Scrutinizers'' Report attached
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Surat Trade and Mercantile Ltd held its 79th Annual General Meeting on 12th September 2025 via video conferencing, with only 43 shareholders attending (6 promoters and 37 public members) out of 1,19,228 total shareholders. All four ordinary resolutions were passed with overwhelming majority, each receiving over 99.99% votes in favour. The resolutions covered adoption of FY25 audited financial statements, re-appointment of Mr. Suhail P. Shah as a Director (retiring by rotation), re-appointment of Mr. Alok P. Shah as Managing Director for a 5-year term, and appointment of M/s. Jigar Vyas & Associates as Secretarial Auditors for 5 years. Voter turnout was strong at 68.48% for non-conflicted resolutions but dropped to 28-43% for resolutions where promoter group was interested, largely due to high abstentions (up to 8.94 crore shares) by conflicted promoter shareholders. Dissenting votes were negligible across all resolutions (just 112 to 638 votes against).
This is a routine AGM outcome with no controversial decisions — all resolutions sailed through, confirming shareholder confidence and leadership continuity with Alok P. Shah continuing as Managing Director for another 5-year term. The high abstention count on related-party resolutions is a normal regulatory compliance feature and not a negative signal; retail investors should see this as stable governance with minimal disruption expected.