Acutaas Chemicals Limited completed the acquisition of 100% equity in Enchem Ami Organics Private Limited on October 17, 2026. The transaction converts the entity from a step-down subsidiary to a direct wholly owned subsidiary of the company.

The company acquired 10,000 equity shares with a face value of ₹10 each. These shares were transferred from Acutaas Chemicals Electrolytes Private Limited, which is a subsidiary of Acutaas Chemicals. This move consolidates ownership structure by bringing the entity directly under the parent company's control.

Transaction details

The acquisition was executed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously intimated the exchanges about this development on September 24, 2026.

Corporate structure impact

Following the completion of the acquisition, Enchem Ami Organics Private Limited ceased to be a step-down subsidiary. It now operates as a direct wholly owned subsidiary of Acutaas Chemicals. The company stated that this information has been made available on its official website for public record.

Acutaas Chemicals Limited shareholders rejected the special resolution to grant employee stock options to employees of subsidiary companies under the 'Ami Organics Employees Stock Option Scheme 2023' during the 19th Annual General Meeting held on September 24, 2026.

The resolution failed to secure the requisite 75% majority, receiving only 72.63% votes in favour. Institutional investors led the opposition, casting 57.67% of their polled votes against the proposal. All other ordinary and special business items were approved by the members.

Voting Results Breakdown

The scrutinizer’s report confirmed that eight out of nine resolutions passed with overwhelming support. The rejection of the ESOP scheme stands out as the sole dissenting vote among the agenda items.

Institutional Opposition to ESOP Proposal

The ESOP resolution faced significant resistance from the public institutional shareholder base. While promoters and promoter group voted unanimously in favour, institutions holding 34,590,629 shares polled 29,074,686 votes against the scheme. This represented 57.67% of the total votes cast by institutions on this specific item.

In contrast, public non-institutional shareholders largely supported the measure, with 99.99% of their polled votes in favour. The disparity between institutional and retail voting patterns directly contributed to the resolution's failure to cross the 75% threshold required for special resolutions.

Approval of Dividend and Financials

Shareholders adopted the audited standalone and consolidated financial statements for FY26 and approved the declaration of a final dividend. The dividend resolution passed with 99.9998% of votes in favour.

Other key approvals included:

• Re-appointment of Mr. Chetankumar C. Vaghasia as Whole Time Director (97.48% in favour).
• Re-appointment of Mr. Ram Mohan Lokhande as Whole Time Director (99.88% in favour).
• Re-appointment of Dr. Anita Bandyopadhyay as Independent Director for a second term (97.78% in favour).
• Approval of material related party transactions with Acutaas Chemicals Electrolytes Private Limited (99.9995% in favour).

Meeting Logistics and Attendance

The meeting was held virtually via video conferencing from the company’s registered office in Mumbai. Mr. Nareshkumar R. Patel, Chairman and Managing Director, presided over the session. The record date for voting entitlement was September 17, 2026, with 1,45,546 registered shareholders.

A total of 86 members attended the virtual meeting, comprising two from the promoter group and 84 public shareholders. Remote e-voting facilities were provided by MUFG Intime India Pvt. Ltd. from September 21 to September 23, 2026. The scrutinizer’s report was submitted by Kashyap Shah & Co., Practising Company Secretaries.