Creative Eye shareholders approve director regularizations and borrowing powers
- Creative Eye shareholders passed four special resolutions at its EGM on August 25, 2026
- All items secured 96.22% support, driven by unanimous promoter backing
- Zuby Kochar was reappointed as Whole-Time Director effective June 1, 2026
- Two independent directors, Praful Jadavji Shah and Asha Choudhary, were regularized
- Borrowing powers were increased under Section 180(1)(c) of the Companies Act
*this image is generated using AI for illustrative purposes only.
Creative Eye shareholders approved the regularization of two independent directors and an increase in borrowing powers at its extraordinary general meeting on August 25, 2026. The voting results, disclosed on August 27, 2026, show that all four special business resolutions passed with 96.22% support.
The meeting, held via video conferencing, also saw the reappointment of Zuby Kochar as whole-time director. The proceedings were conducted in compliance with SEBI Listing Regulations and the Companies Act, 2013.
Key Resolutions Passed
The special business items transacted at the EGM included:
- Reappointment of Zuby Kochar (DIN: 0019868) as Whole-Time Director. Her reappointment is effective from June 1, 2026. She is related to the Managing Director of the company.
- Regularization of Praful Jadavji Shah (DIN: 07927339) as Independent Director for five years. He was appointed as Additional Director on May 26, 2026.
- Regularization of Asha Choudhary (DIN: 11866581) as Independent Director for five years. She was appointed as Additional Director on August 3, 2026.
- Approval to increase borrowing powers under Section 180(1)(c) of the Companies Act, 2013, up to the aggregate of paid-up share capital, free reserves, and securities premium.
Voting Results
All resolutions were passed by special majority. The promoter group voted unanimously in favor of all items, while public non-institutional shareholders showed significant dissent, voting against approximately 62% of their polled votes.
| Resolution | Votes In Favour | Votes Against | % Support |
|---|---|---|---|
| Reappointment of Zuby Kochar | 7,316,363 | 287,789 | 96.22% |
| Regularization of Praful Jadavji Shah | 7,316,403 | 287,749 | 96.22% |
| Regularization of Asha Choudhary | 7,316,363 | 287,789 | 96.22% |
| Increase in Borrowing Powers | 7,316,403 | 287,749 | 96.22% |
Total votes polled stood at 7,604,152, representing 37.91% of outstanding shares. No invalid votes were recorded for any resolution.
Meeting Details
Ashutosh Dheeraj Kumar Kochhar, Managing Director, chaired the meeting. Manoj Ramesh Kalgutkar, Company Secretary and Compliance Officer, managed the proceedings. Ms. Kirty Vaidya served as the scrutinizer for the e-voting process.
The quorum was present, and voting was conducted via remote e-voting from August 22 to August 24, 2026. The consolidated results were submitted to stock exchanges within prescribed timelines.
Historical Stock Returns for Creative Eye
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +12.61% | +9.27% | -1.73% | -2.34% | -23.50% | +86.57% |
How might the newly approved increase in borrowing powers impact Creative Eye's debt-to-equity ratio and future capital expenditure plans?
What are the strategic implications of appointing two new independent directors for the company's corporate governance and board oversight capabilities?
Given the significant dissent from public non-institutional shareholders, what steps will management take to address investor concerns and improve engagement?
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