Ashima Limited has officially submitted its postal ballot voting results and scrutinizer's report to BSE and NSE on 21st March, 2026, following the completion of remote e-voting process. The company sought shareholder approval for related party transactions between Saumya Construction Private Limited and Ashima Capital Management Limited, a wholly owned subsidiary of Ashima Limited.

Official Submission and Regulatory Compliance

On 21st March, 2026, the company formally submitted voting results pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission included the scrutinizer's report dated 19th March, 2026, issued under Section 110 of the Companies Act, 2013 read with Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014.

E-Voting Process and Timeline

The remote e-voting process was conducted over a month-long period, commencing on 18th February, 2026 at 9:00 a.m. (IST) and concluding on 19th March, 2026 at 5:00 p.m. (IST). The postal ballot notice was dated 13th February, 2026, with the same date serving as the record date for determining eligible shareholders.

Scrutinizer Appointment and Report

Tapan Shah, a Company Secretary in Practice from Ahmedabad (C.P. No.: 2839), was appointed as the scrutinizer by the Board of Directors on 13th February, 2026. The scrutinizer issued his comprehensive report on 19th March, 2026, confirming the proper conduct of the e-voting process in accordance with applicable regulations.

Detailed Voting Results

The resolution regarding the related party transaction received overwhelming support from eligible shareholders. Due to the related party nature of the transaction, only public non-institutional shareholders were eligible to vote, while promoter and promoter group votes were considered invalid.

The resolution was passed with 99.72% of the polled votes in favour and only 0.28% against. A total of 87 voters participated in the e-voting process, with 80 voting in favour and 7 voting against the resolution.

Invalid Votes and Related Party Restrictions

Significant portions of the shareholding were deemed invalid for this particular resolution due to related party restrictions. The invalid votes totaled 140,971,211 shares, comprising promoter and promoter group holdings of 140,842,835 shares and 128,376 votes from relatives of directors/promoters.

Resolution Details and Corporate Governance

The approved resolution pertained to related party transactions between Saumya Construction Private Limited and Ashima Capital Management Limited, sought pursuant to Regulation 23(2) of SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015. The postal ballot process was conducted entirely through electronic means, with notices dispatched only via email to registered addresses and mandatory advertisements published in English newspaper "Western Times" and Gujarati newspaper "Western Times" on 18th February, 2026.

Ashima Limited has announced the partial early redemption of its non-convertible debentures (NCDs) worth ₹4.00 crore, exercising its call option under the terms of the debenture trust deeds. The company informed both BSE Limited and National Stock Exchange of India about this corporate action through a regulatory filing dated March 19, 2026.

Redemption Details

The redemption involves unlisted, secured, unrated, redeemable, rupee-denominated NCDs issued under debenture trust deeds dated March 16, 2023, and April 18, 2024. The redemption will be executed by reducing the paid-up value of existing NCDs rather than canceling the debentures entirely.

Debenture Holder-wise Breakdown

The partial redemption affects NCDs held by two entities, with identical terms for both holders:

Overall Impact

The comprehensive impact of this redemption on Ashima Limited's debt structure shows significant reduction in outstanding obligations:

Terms and Conditions

The redemption follows the applicable terms and conditions outlined in the debenture trust deeds. According to the NCD terms, premium on redemption, including partial redemptions, will be computed and paid at the end of the tenure of the NCDs. The balance debentures not covered under this redemption will continue to remain outstanding under their original terms.

Regulatory Compliance

This announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Harshil Shah, Company Secretary and Compliance Officer, ensuring proper regulatory disclosure of this material corporate action.