DS Kulkarni Developers has released the consolidated scrutinizer’s report for its 35th annual general meeting held on September 10, 2026. The filing confirms that shareholders approved all five ordinary and special business resolutions, including key related-party transactions and the re-appointment of a retiring director.

The meeting, chaired by managing director Bhushan Vilas Palresha, started at 11:30 am and concluded at 11:42 am via video conferencing. M/s. Saurabh Shukla & Associates served as the scrutinizer for the e-voting process, which ran from September 7 to September 9, 2026, and continued for 15 minutes during the meeting.

Resolutions Approved

Shareholders voted on five items listed in the notice dated August 19, 2026, read with the corrigendum dated September 3, 2026. The audit committee adopted the standalone financial statements for FY26, and Sumit Ramesh Diwane was re-appointed as a director after retiring by rotation.

Three special resolutions concerning material related-party transactions were also put to vote. These involved Classic Promoters and Builders Private Limited, Ashdan Township Ventures Private Limited, and Ashdan Township Holdings Private Limited. Notably, Item No. 4 regarding Ashdan Township Ventures was withdrawn in the original notice but appears to have been included in the final scrutinizer's report under Item No. 4, receiving approval.

Voting Results

The voting results indicate strong support from shareholders across all resolutions. The adoption of financial statements and director re-appointment saw near-unanimous approval, while the related-party transactions received over 96% support.

Scrutinizer Details

CS Saurabh Shukla, proprietor of Saurabh Shukla & Associates, confirmed that the voting process complied with Section 108 of the Companies Act, 2013, and SEBI LODR regulations. The remote e-voting facility was provided by National Securities Depository Limited (NSDL). All records will be retained by the scrutinizer until the chairman approves the meeting minutes.

DS Kulkarni Developers completed the transfer of 94,99,994 equity shares to Ashdan Township Holdings Private Limited on August 20, 2026. The move finalises a promoter group restructuring initiated in March 2024.

The transfer was delayed because trading in the company’s equity shares was suspended due to an ongoing National Company Law Tribunal (NCLT) Corporate Insolvency Resolution Process (CIRP). Trading resumed on August 3, 2026, following exchange approvals granted on July 31, 2026.

Transaction Details

The shares were transferred from the demat account of Ashdan Properties Private Limited (seller) to that of Ashdan Township Holdings Private Limited (acquirer). This action implements previously disclosed filings under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The company clarified that this transfer does not constitute a fresh transaction but rather the completion of the earlier reported inter-se transfer among qualifying persons. All rights pertaining to these shares had vested in the acquirer since the original acquisition date of March 6, 2024.

Regulatory Compliance

The transfer falls under Regulation 168(2) of the SEBI ICDR regulations, governing inter-se transfers within the promoter group. Consequently, the transferred shares remain subject to lock-in restrictions imposed by the exchanges until August 31, 2027.

The company had previously made disclosures under Regulation 10(5) and 10(6) of the SAST Regulations in February and March 2024. Additional disclosures under Regulation 29(1) and 29(2) regarding the acquisition and sale of more than 5% shares were filed on March 8, 2024.