There has been change in percentage (%) of votes cast in Resolution No. 15 and 16 as mentioned in the Notice of 31st Annual General Meeting of the Company dated February 27, 2026. Consequently, ....
Awaiting price reaction for this filing.
Alka India Limited (BSE: 530889) held its 31st AGM on March 23, 2026 via video conferencing, where all 17 resolutions were passed with the required majority. The company has issued a revised announcement specifically because the percentage of votes cast for Resolution No. 15 (borrowing of unsecured loan up to Rs. 100 crore from a Director, convertible into equity) and Resolution No. 16 (issue of equity shares on a preferential basis) has changed. Both these resolutions involved a related-party conflict of interest, so promoter and promoter group holdings of 47.50 lakh shares were classified as invalid/abstained. Of the remaining valid votes (452 shares from public non-institutions), 95.80% voted in favour and 4.20% against for both resolutions.
The revision highlights an extremely thin public shareholder turnout on the preferential issue and related-party loan (only 452 public shares voted versus 47.5 lakh promoter shares abstained due to conflict), raising governance concerns about dilution risk and related-party transactions. Shareholders should track the upcoming name change to 'Audroc Ltd', the Maharashtra-to-Gujarat office shift, and the preferential allotment which could materially affect shareholding pattern and equity value.