Scrutinizers report of Annual General Meeting held on May 29, 2026
UGROCAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
UGRO Capital Limited held its 33rd AGM on May 29, 2026 through video conferencing with 40,041 shareholders as of the cut-off date. The scrutinizer's report from M/s Pankaj Nigam and Associates shows voting results for 7 resolutions. Six resolutions passed with overwhelming support, including adoption of standalone and consolidated financial statements, appointment of new statutory auditor G.P. Kapadia and Co., re-appointment of director Rohit Goyal, and re-appointment of Vice Chairman and Managing Director Shachindranath. However, a special resolution (Resolution 6) seeking approval for variable compensation and unpaid fixed compensation for the MD failed to pass as it received only ~56% favour votes against the required 75% for special resolutions, despite promoter support. A resolution for ESOP grants to subsidiary employees also passed with 99.56% favour votes.
The failure of Resolution 6 is significant as shareholders rejected the MD's compensation package despite promoter backing, indicating investor concerns about executive pay. This governance issue may create uncertainty around leadership retention and could impact market sentiment, while other routine business passed smoothly.