We are hereby submitting the Voting results of Postal Ballot pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Report of Scrutinizer pursuant to Section 108 and 110 of the Companies Act, 2013 and Rules made thereunder
VINEETLAB · price
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Vineet Laboratories Limited announced the results of its postal ballot concluded on June 25, 2025. Both resolutions put to vote were rejected by shareholders. Resolution 1 was a Special Resolution to appoint Mr. Rajesh Kumar Kathulla (DIN: 05349717) as Whole Time Director, which received 99.77% votes against it. Resolution 2 was an Ordinary Resolution to increase the Authorised Share Capital and amend the Memorandum of Association, which also received 99.77% votes against. Out of 9,712 shareholders on record date (May 19, 2025), only 0.16-0.18% of public shareholders participated in e-voting, and the promoter group (holding 34.77% stake) voted 100% against both resolutions. The scrutinizer was Mr. Jineshwar Kumar Sankhala of P S Rao & Associates.
Both key proposals were defeated, with the promoter group itself voting against an executive director appointment and a share capital expansion. This is unusual and could signal internal disagreement between the promoter group and the board, potentially creating governance uncertainty and stalling the company's expansion and leadership plans. Shareholders may view this as a red flag requiring clarity on the company's future direction.