Facor Alloys alters object clause with 99.97% shareholder approval

Facor Alloys Limited shareholders have approved the alteration of the object clause of the Memorandum of Association via a postal ballot. The resolution secured the requisite majority, with 99.97% of the total votes cast favouring the proposal. This approval allows the company to amend its core objectives as outlined in its constitutional documents.

The remote e-voting process was conducted from June 19, 2026, to July 18, 2026. A total of 260 shareholders participated, representing 75,992,642 equity shares. The Scrutinizer's report confirmed that 75,966,408 votes were cast in favour, while 26,234 votes were cast against the resolution. No invalid votes were recorded during the process.

Voting Breakdown

The voting participation was segmented across different shareholder categories. Promoters and the Promoter Group cast 75,242,884 votes, all in favour of the resolution. Public Non-Institutions cast 749,758 votes, with 723,524 in favour and 26,234 against. Public Institutions did not participate in the voting process.

Category	Votes in Favour	Votes Against	Total Votes Polled
Promoter and Promoter Group	75,242,884	0	75,242,884
Public Institutions	0	0	0
Public Non-Institutions	723,524	26,234	749,758
Total	75,966,408	26,234	75,992,642

Procedural Details

M/s. MAS Services Limited acted as the Registrar and Share Transfer Agent, while M/s. National Securities Depository Limited (NSDL) provided the electronic voting facility. The notice for the postal ballot was dispatched electronically to 59,036 shareholders on June 17, 2026. The cut-off date for determining shareholder eligibility was June 12, 2026, on which the total number of shareholders stood at 71,066.

Tumul Maheshwari, Practicing Company Secretary, was appointed as the Scrutinizer to oversee the voting process. The results were declared on July 20, 2026, and the relevant records have been handed over to the Chairman of the company for safe-keeping. The voting results and the Scrutinizer's report have been submitted to the stock exchanges and are available on the company's website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.95%	+1.60%	+6.11%	+39.93%	+7.30%	-32.63%

Facor Alloys has initiated a postal ballot process to seek shareholder approval for altering the object clause of its Memorandum of Association to include logistics infrastructure operations. The company aims to develop, own, operate, and manage Gati Shakti Cargo Terminals (GCT) and integrated logistics infrastructure, utilizing its existing private railway siding. This strategic shift aligns with the Gati Shakti Policy framework of Indian Railways and the PM Gati Shakti National Master Plan.

The proposed resolution seeks to delete the existing Clause III(A)(1), which relates to a rehabilitation scheme sanctioned by the erstwhile Board for Industrial and Financial Reconstruction (BIFR), as it is no longer relevant. Additionally, the company plans to insert new clauses to carry on business as carriers, freight forwarders, and providers of warehousing and transport services using its existing rail tracks. The Board of Directors approved these alterations at its meeting held on May 25, 2026.

Postal Ballot and E-Voting Schedule

In compliance with Ministry of Corporate Affairs (MCA) circulars, the notice has been dispatched only through electronic mode. Shareholders whose names appeared in the Register of Members as on the cut-off date of June 12, 2026, are eligible to vote. Physical copies of the notice have not been dispatched. The remote e-voting period is open from June 19, 2026, at 09:00 a.m. IST to July 18, 2026, at 05:00 p.m. IST.

Event	Date and Time
Cut-off Date	June 12, 2026
Commencement of Remote E-voting	June 19, 2026 (09:00 a.m. IST)
End of Remote E-voting	July 18, 2026 (05:00 p.m. IST)
Declaration of Results	On or before July 21, 2026

Scrutinizer and Process

The Board has appointed Mr. Tumul Maheshwari, Partner of M/s. MT & Co., Company Secretaries, Delhi, as the Scrutinizer to ensure the e-voting process is conducted fairly. The Scrutinizer will unblock the votes in the presence of at least two witnesses not in the company's employment and submit a report within two working days of the voting conclusion. The results will be declared by the Chairperson or an authorized person and subsequently communicated to BSE Limited and uploaded to the company's website.

Shareholders can cast their votes through the NSDL e-voting system. Individual shareholders holding shares in demat mode can log in using their demat account credentials via NSDL or CDSL. Those holding physical shares or non-individual shareholders must use specific user IDs and passwords provided by NSDL. The company has also provided helpdesk details for technical assistance regarding the e-voting process.