Voting Result and Scrutinizer''s Report of the Postal Ballot
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Welcure Drugs & Pharmaceuticals announced results of a postal ballot where shareholders approved three resolutions. First, the appointment of Mr. Chintan Didawala Ganpat (DIN: 11088268) as Managing Director for a 5-year term from May 14, 2025 to May 13, 2030 was approved with 97.83% votes in favor. Second, a special resolution to alter the Main Objects Clause of the Memorandum of Association was passed with 92.48% votes in favor, adding new business areas including real estate development, construction, trading of goods, jewelry, and consulting. Third, an ordinary resolution to increase authorised share capital from Rs. 116 crores to Rs. 186 crores (adding Rs. 70 crores, creating 7 crore additional equity shares of Rs. 10 each) was passed with 97.83% support. Voter turnout was extremely low — only 43 out of 32,632 members voted, representing just 0.0166% of outstanding shares (18,673 shares out of 11.23 crore). Notably, the promoter and promoter group held 0 shares and did not participate in the voting.
The new Managing Director takes charge immediately, and the company now has the legal scope to diversify into real estate, construction, trading, and jewelry — a dramatic shift away from its core pharmaceutical identity. The expanded authorised share capital gives the company room for future fund-raising. However, the negligible voting turnout and zero promoter participation may raise governance concerns among investors.