Cospower Engineering Limited has successfully concluded its postal ballot process, with shareholders unanimously approving a special resolution to enhance the company's overall borrowing limits under Section 180(1)(C) of the Companies Act, 2013. The announcement was made on March 27, 2026, following the completion of the remote e-voting process and submission of the scrutinizer's report to BSE Limited.

Postal Ballot Results

The voting process demonstrated strong shareholder support for the proposed borrowing limit enhancement. Key voting statistics show comprehensive participation and unanimous approval:

The voting process achieved a participation rate of 61.4484% of outstanding shares, with all 1128500 votes cast unanimously in favor of the resolution. No votes were recorded against the proposal, and no invalid votes were reported.

Voting Process Details

The postal ballot was conducted in accordance with regulatory requirements and COVID-19 guidelines issued by the Ministry of Corporate Affairs. The process included several key parameters:

The remote e-voting facility was provided by NSDL and remained active from February 25, 2026, at 9:00 AM to March 26, 2026, at 5:00 PM. The postal ballot notice was distributed electronically to all registered shareholders on February 24, 2026.

Scrutinizer Appointment and Report

CS Jaymin Modi of Jaymin Modi & Co. served as the appointed scrutinizer for the postal ballot process. The scrutinizer was appointed by the Board of Directors on February 20, 2026, and submitted the final report on March 27, 2026.

The scrutinizer confirmed that the voting process was conducted in a fair and transparent manner, with all procedural requirements met according to the Companies Act, 2013, and SEBI regulations.

Resolution Details and Regulatory Compliance

The approved special resolution specifically addresses the enhancement of overall borrowing limits under Section 180(1)(C) of the Companies Act, 2013. This resolution required special majority approval from shareholders and was not considered to involve any conflict of interest for the promoter group.

The successful passage of this resolution provides Cospower Engineering Limited with enhanced financial flexibility to pursue growth opportunities and manage working capital requirements more effectively. The unanimous shareholder approval reflects confidence in the company's financial management and strategic direction.

The postal ballot process was conducted in full compliance with applicable regulations, including the Companies Act, 2013, SEBI Listing Regulations, and various MCA circulars related to conducting meetings during the COVID-19 pandemic. The voting results and scrutinizer's report have been made available on the company's website at www.cel.net.in and submitted to BSE Limited for regulatory compliance. Wholetime Director Oswald Rosario Dsouza signed the official announcement to BSE Limited confirming the successful completion of the postal ballot process.

Cospower Engineering Limited has submitted a regulatory disclosure to BSE Limited regarding the substantial acquisition of shares by Swapna Gunda under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was officially submitted on March 13, 2026, through the company's Wholetime Director Oswald Rosario Dsouza.

Acquisition Details

The transaction involved the acquisition of 1,62,000 equity shares through preferential allotment, representing 8.82% of the company's total share capital. Gunda, who is not part of the promoter or promoter group, held no shares in the company prior to this acquisition.

Share Capital Impact

The preferential allotment resulted in a significant expansion of Cospower Engineering's equity base, with the total share capital increasing from Rs. 1,67,45,000 to Rs. 1,83,65,000.

Shareholding Pattern Changes

Following the completion of this transaction, Gunda's shareholding position represents 8.82% of both the total share capital and diluted share capital of the company.

Regulatory Compliance and Filing

The disclosure was filed with BSE Limited, where Cospower Engineering's shares are listed under scrip code 543172. The company's registered office is located at No. 940, Sr. No.134/17A, Pazar Talav Road, Vaki Pada, Tal. Vasai, Naigaon East, Maharashtra. The regulatory filing confirms full compliance with SEBI regulations governing substantial acquisitions of shares, with the formal disclosure submitted within the prescribed timeframe following the share credit date.