Confidence Petroleum India EGM Voting Results: All Three Resolutions Passed
Confidence Petroleum India Limited released voting results and the scrutinizer's report for its EGM held on 02/05/2026 via VC/OAVM, with 31 shareholders attending. All three special resolutions—appointment of M/S. Katariya and Munot as Joint Statutory Auditor, borrowing limits under Section 180(1)(C) of the Companies Act 2013, and Creation of Charge—were passed with requisite majority, with over 99.99% votes in favour across all resolutions. The scrutinizer's report was submitted by Siddharth Sipani of M/s Siddharth Sipani & Associates on 04/05/2026.
*this image is generated using AI for illustrative purposes only.
Confidence Petroleum India Limited has disclosed the voting results and scrutinizer's report for its Extra-Ordinary General Meeting held on Saturday, 02nd May 2026, through Video Conferencing/Other Audio Visual Means (VC/OAVM). In compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, all three special resolutions placed before shareholders were passed with requisite majority via e-voting.
Meeting Participation Overview
The EGM was attended by 31 shareholders through video conferencing, comprising 8 from the Promoter and Promoter Group and 23 from the Public category. The total number of shareholders on the record date of 24/04/2026 stood at 109152. Physical attendance was dispensed with in accordance with MCA and SEBI circulars, and the remote e-voting facility was provided by National Securities Depository Limited (NSDL).
| Parameter: | Details |
|---|---|
| EGM Date: | 02/05/2026 |
| Total Shareholders (Record Date 24/04/2026): | 109152 |
| Shareholders via Video Conferencing: | 31 (Promoter: 8, Public: 23) |
| E-Voting Facility: | NSDL |
| Scrutinizer: | Siddharth Sipani, M/s Siddharth Sipani & Associates |
| Scrutinizer's Report Date: | 04/05/2026 |
Resolution 1: Appointment of Joint Statutory Auditor
The first special resolution concerning the appointment of M/S. Katariya and Munot, Chartered Accountant, as Joint Statutory Auditor of the Company was passed with requisite majority. The promoter group voted entirely in favour, while public institutional and non-institutional shareholders also voted overwhelmingly in support.
| Category: | Shares Held | Votes Polled | % Polled | Votes in Favour | Votes Against | % in Favour |
|---|---|---|---|---|---|---|
| Promoter & Promoter Group: | 185674735 | 147851579 | 79.63 | 147851579 | 0 | 100.00 |
| Public – Institutions: | 1840553 | 1128278 | 61.30 | 1127842 | 436 | 99.99 |
| Public – Non-Institutions: | 144725755 | 26257 | 0.02 | 23996 | 1860 | 94.87 |
| Total: | 332241043 | 149006114 | 44.84 | 149003818 | 2296 | 99.99 |
Resolution 2: Borrowing Limits Under Section 180(1)(C)
The second special resolution authorising borrowing limits under Section 180(1)(C) of the Companies Act, 2013 was also passed with requisite majority. The promoter group and public institutional shareholders voted entirely in favour, with minimal opposition from non-institutional public shareholders.
| Category: | Shares Held | Votes Polled | % Polled | Votes in Favour | Votes Against | % in Favour |
|---|---|---|---|---|---|---|
| Promoter & Promoter Group: | 185674735 | 147851579 | 79.63 | 147851579 | 0 | 100.00 |
| Public – Institutions: | 1840553 | 1128278 | 61.30 | 1128278 | 0 | 100.00 |
| Public – Non-Institutions: | 144725755 | 25956 | 0.02 | 24346 | 1610 | 99.99 |
| Total: | 332241043 | 149005813 | 44.84 | 149004203 | 1610 | 99.99 |
Resolution 3: Creation of Charge
The third special resolution pertaining to the Creation of Charge was similarly passed with requisite majority. Promoter group and public institutional shareholders voted unanimously in favour, while public non-institutional shareholders recorded a small number of votes against.
| Category: | Shares Held | Votes Polled | % Polled | Votes in Favour | Votes Against | % in Favour |
|---|---|---|---|---|---|---|
| Promoter & Promoter Group: | 185674735 | 147851579 | 79.63 | 147851579 | 0 | 100.00 |
| Public – Institutions: | 1840553 | 1128278 | 61.30 | 1128278 | 0 | 100.00 |
| Public – Non-Institutions: | 144725755 | 25956 | 0.02 | 24068 | 1888 | 99.99 |
| Total: | 332241043 | 149005813 | 44.84 | 149003925 | 1888 | 99.99 |
Scrutinizer's Report and Regulatory Compliance
The scrutinizer's report was submitted by Siddharth Sipani, Proprietor of M/s Siddharth Sipani & Associates, Company Secretaries (Membership No. 28650, CP No. 11193), dated 04/05/2026, from Nagpur. The votes were unblocked at Nagpur on 02nd May 2026 in the presence of two witnesses, Ms. Anshika Jain and Mr. Kushal Jain, who are not employees of the company. The voting results and scrutinizer's report have been submitted to both the National Stock Exchange of India Limited and The Bombay Stock Exchange in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Prity Bhabhra confirmed the official completion of all EGM formalities, with the company operating from its registered office at 1002 Akruti Erica, Vile Parle East, Mumbai-400057, and its corporate office at Confidence Tower, Nagpur.
Historical Stock Returns for Confidence Petroleum
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.13% | +20.56% | +40.70% | +106.86% | +27.79% | +21.85% |
How will the newly appointed Joint Statutory Auditor M/S. Katariya and Munot potentially impact Confidence Petroleum's financial reporting transparency and audit quality going forward?
What specific borrowing plans does Confidence Petroleum intend to pursue under the newly authorized limits per Section 180(1)(C), and how might this additional leverage affect the company's debt-to-equity ratio?
Against which assets or business operations is Confidence Petroleum planning to create a charge, and what does this signal about the company's upcoming capital expenditure or expansion strategy?
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