Baazar Style Retail Limited shareholders have approved all four resolutions proposed during the postal ballot process conducted through remote e-voting. The voting, which concluded on July 19, 2026, secured the required majority for key agenda items including the approval of borrowing limits and the enhancement of limits for creating charges on company assets.

The postal ballot was conducted pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The remote e-voting facility was open from Saturday, June 20, 2026, at 9:00 A.M. IST until Sunday, July 19, 2026, at 5:00 P.M. IST. MUFG Intime India Private Limited served as the service provider for the e-voting process.

Voting Outcomes

A total of 177 shareholders participated in the e-voting process, representing 4,08,63,348 shares. The scrutinizer, Mr. Sanjay Kumar Joshi of M/s S.K. Joshi & Associates, validated the results in a report dated July 20, 2026.

Resolution Details

Shareholder Participation

The record date for determining eligibility to vote was June 12, 2026, on which the company had 58,925 shareholders. Promoters and the promoter group held 3,41,06,984 shares, while public institutional holders held 55,59,148 shares. Public others held 3,64,51,221 shares.

The resolution regarding the remuneration of Mr. Avishek Prasad, which was an ordinary resolution, saw significant opposition from public institutional holders. While the promoter group voted entirely in favour, public institutional holders cast 37,23,949 votes against the resolution. Despite this, the resolution passed with 88.97% of the valid votes in favour.

Baazar Style Retail has filed two separate civil suits against Cupid Limited before the Learned 1st Civil Judge (Senior Division) at Alipore, District 24 Parganas South, West Bengal. The first suit, identified as T.S. No. 1015 of 2026, seeks a decree for Rs 28.18 Cr and other consequential reliefs. The second suit, T.S. No. 1020 of 2026, seeks an injunction on defamatory allegations made against the company. An interim injunction was passed in the second proceeding on July 17, 2026.

The company disclosed these regulatory filings under Regulation 30 of the SEBI Listing Regulations. The filings were submitted by Abinash Singh, Chief Compliance Officer, Company Secretary & Head - Legal & Compliance.

The table below summarizes the details of the two proceedings:

Baazar Style Retail stated that no immediate adverse financial implications are expected from these proceedings, apart from legal and incidental expenses. The claims in the first suit are substantial, totaling Rs 28,18,00,000. The second proceeding does not carry a monetary claim but addresses reputational concerns through the court-ordered injunction.

The legal actions are part of the company's efforts to address disputes with Cupid Limited & Anr and Cupid Limited & Ors. The company will continue to monitor the status of these litigations and provide updates as required under applicable regulations.