We hereby intimate the non-receipt of requisite majority as required for the passing of special businesses as set before the members at the EGM held on March 12, 2026.
Awaiting price reaction for this filing.
Pasupati Fincap Ltd has informed BSE that all four special resolutions put to vote at its Extra Ordinary General Meeting (EGM) held on March 12, 2026 (via video conferencing) failed to get the required majority through e-voting. The resolutions that fell through were: (1) change of company name and alteration of Memorandum and Articles of Association, (2) scheme of arrangement for reduction of share capital, (3) borrowing limits beyond paid-up capital and free reserves under Section 180(1)(c) of the Companies Act, 2013, and (4) authorization for loans, investments, guarantees or security under Section 186 of the Companies Act, 2013. The company has stated that it will not proceed with these items at present and may bring them before shareholders again in the future with proper intimation to the stock exchange.
Shareholders have rejected the management's proposals for a name change, capital reduction, and expanded borrowing/investment powers, meaning none of these corporate actions will take effect now. This is a setback for the company's stated plans and may delay any strategic restructuring the board was attempting. The stock could see negative sentiment as these proposals had been positioned as forward-looking moves.