Avishkar Infra Realty Limited (formerly Joy Realty Limited) concluded its 43rd Annual General Meeting on September 30, 2026, with all three proposed resolutions passing by requisite majority. The meeting, held via video conferencing, approved the addition of solar and green energy activities to the company's business scope and the re-appointment of Kapil Kothari as Managing Director.

The voting process was scrutinized by Megha Samdani of M K Samdani & Co., ensuring compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company submitted the consolidated voting results and scrutinizer report to BSE Limited on October 1, 2026. No shareholders attended in person or through proxy; participation was limited to remote e-voting and video conferencing attendees.

Voting turnout and participation

The record date for the meeting was September 23, 2026, with 1,893 shareholders on the register. Total outstanding shares stood at 22,403,280. Voting participation varied significantly across resolutions, particularly due to promoter interest disclosures.

Public non-institutional shareholders cast 7,400,071 votes across all resolutions, representing 50.58% of their holding. Promoter group participation was notably higher for resolutions where they were not deemed interested or where invalid votes were excluded from the final count.

Resolution outcomes

Resolution 1: Adoption of Financial Statements This ordinary resolution sought approval for the audited standalone and consolidated financial statements for FY26. It received 12,238,139 votes in favour and only 6 against, resulting in a 99.999% support rate among polled votes.

Resolution 2: Re-appointment of Managing Director Kapil Kothari (DIN: 02979665), who retired by rotation, was re-appointed as Managing Director. This ordinary resolution saw 15,126,977 votes in favour. Notably, 2,888,838 votes from the promoter group were classified as invalid, likely due to interest disclosure rules under Section 108 of the Companies Act, 2013. Despite this, the resolution passed comfortably.

Resolution 3: Solar and Green Energy Expansion A special resolution to alter the Memorandum of Association and add solar and green energy activities passed with 15,126,977 votes in favour and 6 against. This strategic pivot marks a significant shift in the company's operational focus beyond traditional realty and infrastructure.

What the Numbers Show

A distinct pattern emerges when comparing the total votes polled for Resolution 1 versus Resolutions 2 and 3. While public shareholder participation remained constant at 7,400,071 votes across all three items, the total votes polled jumped from 12.24 million for the financial statements to 15.13 million for the MD re-appointment and solar expansion. This increase corresponds directly with the promoter group casting additional votes (7,726,912) for the latter two resolutions compared to 4,838,074 for the first. The presence of 2,888,838 invalid votes specifically in the MD re-appointment resolution suggests a procedural exclusion of promoter votes due to interest, yet the sheer volume of valid votes indicates strong promoter backing for both the leadership continuity and the new business vertical.

Avishkar Infra Realty Ltd has confirmed that its statutory auditor issued an unmodified opinion on the audited financial statements for the financial year ended March 31, 2026. The disclosure, submitted to BSE Limited, verifies that the audit report for both standalone and consolidated financial results carries an unqualified opinion. This confirmation was provided by Director Poojan Keyurbhai Mehta on June 30, 2026.

The statutory auditor, S D P M & Co. (FRN: 126741W), issued the audit report pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The regulation requires listed companies to declare the nature of the auditor's opinion on their financial results. The company confirmed compliance with this requirement, referencing SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016.

In a separate declaration under Regulation 33(2)(a), Avishkar Infra Realty stated that its financial results for FY26 do not contain any false or misleading statements. The company further affirmed that no material facts have been omitted that could render the figures or statements within the results misleading. This declaration ensures the integrity of the financial information disclosed to the shareholders.

The following table summarizes the key disclosures made by Avishkar Infra Realty Ltd:

These filings were addressed to the Listing Department of BSE Limited in Mumbai. The company requested that the exchange place these clarifications on record.