Shareholders of Ekam Leasing & Finance Co. Limited have approved the Scheme of Amalgamation of Rex Overseas Private Limited and S & S Balajee Mercantile Private Limited into the company, clearing a critical regulatory hurdle for the restructuring. The resolution passed with overwhelming support during an NCLT-directed meeting held on July 24, 2026, marking a decisive step forward for the transferee company as it integrates the two transferor entities under Sections 230 and 232 of the Companies Act, 2013.

The voting process was conducted pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and followed directions from the National Company Law Tribunal, New Delhi Bench-III, vide order dated May 8, 2026. Dr Alok Srivastava, IAS (Retd.), chaired the meeting, which was convened via video conferencing after an initial adjournment due to quorum requirements. Ravi Kant Srivastava, Advocate, served as the independent scrutinizer appointed by the Tribunal to oversee the integrity of the voting process.

Voting Participation and Results

As of the record date on July 17, 2026, the company had 3,460 equity shareholders. Of these, 124 shareholders participated in the voting process through remote e-voting or e-voting during the meeting. The total number of valid votes cast was 38,81,514. The resolution received 38,81,512 votes in favor, representing 99.99% of the total valid votes by value. Only two votes were cast against the proposal, accounting for 0.01% of the total.

The high approval rate indicates strong shareholder consensus on the amalgamation strategy. The meeting initially failed to meet the quorum fixed by the Tribunal at 75% in value, leading to a half-hour adjournment before reconvening at 4:35 P.M. IST. National Securities Depository Limited (NSDL) facilitated the remote e-voting platform, which operated from July 20 to July 23, 2026.

Public Shareholder Approval

Compliance with SEBI regulations requires separate consideration of public shareholder votes. Among public category equity shareholders, 121 voters cast 22,19,788 valid votes. The scheme secured 22,19,786 votes in favor (99.99% by value) and only two votes against (0.01%). This outcome confirms that the public class of shareholders has also approved the amalgamation, satisfying statutory requirements for cross-class consent.

Key Promoter Support

Promoter group shareholders played a significant role in the approval, holding a combined 16,61,726 shares. Key promoters who voted in favor include Rakesh Jain (7,78,000 shares), Mukesh Gangwal (4,78,926 shares), and Pawan Kumar Jain (4,04,800 shares). Their substantial participation helped ensure the requisite majority was achieved despite the low overall turnout relative to the total shareholder base.

The single shareholder who voted against the resolution was Pradeep Sood, a public category investor holding two shares. This minimal opposition underscores the broad alignment among stakeholders regarding the strategic rationale for merging Rex Overseas and S & S Balajee Mercantile into Ekam Leasing & Finance Co. Limited. The next steps involve submitting these results to the NCLT for final approval of the scheme.

ekam leasing & finance co has fixed Friday, July 17, 2026 as the record date to determine the eligibility of equity shareholders for an NCLT-directed meeting concerning a proposed scheme of amalgamation. The meeting is being convened pursuant to Sections 230 and 232 of the Companies Act, 2013, read with other applicable provisions, to seek shareholder approval. The record date is essential for identifying members entitled to participate and cast their votes through remote e-voting and e-voting during the meeting.

The company has engaged National Securities Depository Limited (NSDL) to facilitate the electronic participation and e-voting process for its members. This arrangement allows shareholders to join the NCLT-directed meeting remotely and exercise their voting rights without being physically present. The facility ensures compliance with regulatory requirements while providing accessibility to all eligible equity shareholders.

Remote e-voting will be available ahead of the physical meeting, allowing shareholders sufficient time to register their decisions. The voting window is scheduled to open on Monday, July 20, 2026, at 9:00 A.M. IST and will conclude on Thursday, July 23, 2026, at 5:00 P.M. IST. Shareholders are advised to utilize this facility to ensure their votes are counted in the decision regarding the amalgamation scheme.

The notice convening the meeting, along with the explanatory statement and all relevant annexures, has been made available on the company's official website. These documents provide detailed information regarding the proposed scheme of amalgamation and the procedures for participating in the voting process. The company has filed this intimation with the Bombay Stock Exchange Limited pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

E-Voting Schedule