Declaration of Results of Postal Ballot.
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Veritas (India) Ltd has declared the results of its postal ballot concluded on January 5, 2026. Two resolutions were passed by shareholders: (1) a Special Resolution approving the sale, disposal, or leasing of assets exceeding 20% of the assets of a material subsidiary, passed with 88.27% votes in favor, and (2) an Ordinary Resolution appointing Mr. Sunil Sehgal (DIN: 02561520) as Non-Executive Non-Independent Director, passed with 99.96% votes in favor. Promoter group voted 100% in favor of both resolutions, while 11.73% of public non-institutional votes were against the asset disposal resolution. Notably, 3,953,536 shares from 14 corporate shareholders were deemed invalid for both resolutions due to non-receipt of requisite board resolutions or proper authorization.
The asset disposal approval gives the company flexibility to divest or lease material subsidiary assets, which could signal restructuring or monetisation plans. The appointment of a new Non-Executive Non-Independent Director adds a board member without changing promoter control.