Submission of result of Postal Ballot (conducted through e-voting) along with Scrutinizer''s Report as per Regulation 44 and all other applicable regulations, if any, of SEBI LODR Regulations, ....
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Veefin Solutions Ltd has submitted the results of a Postal Ballot conducted via e-voting to seek shareholder approval for Related Party Transactions with its related parties. The voting period ran from March 20, 2025 to April 18, 2025. The ordinary resolution was passed with overwhelming support — 99.87% of votes polled were in favour (16,49,789 votes) versus just 0.13% against (2,200 votes). Total votes polled were 16,51,989, representing 6.89% of outstanding shares of 2,39,73,407. Promoters and promoter group (holding 84,41,325 shares) abstained from voting as they were interested in the resolution. Notably, the company voluntarily sought shareholder approval even though Regulation 23 of SEBI LODR (which mandates such approval for material related party transactions) was not yet applicable when the notice was issued — it only became applicable on April 1, 2025.
The approval clears the way for Veefin Solutions to proceed with related party transactions in a compliant manner. Strong shareholder support (nearly unanimous) signals comfort with the company's governance practices, though low overall voting turnout (under 7%) is a common pattern in postal ballot results.