Ganon Products Limited has received a formal request from Kamla Business Ventures LLP to reclassify its shareholder status from the "Promoter & Promoter Group" category to the "Public" category. The application was submitted in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The request was made by Kamla Business Ventures LLP, which is currently classified under the "Promoter" category. The entity stated that it does not exercise any direct or indirect control over the affairs of the company. This development follows standard regulatory procedures for entities seeking to exit promoter status when they no longer hold significant influence.

Declarations regarding control

In its submission, Kamla Business Ventures LLP provided specific declarations to support the reclassification request. These statements are critical for regulatory approval as they establish the absence of promoter-level influence. The key points include:

• The entity does not exercise any direct or indirect control over the company's affairs.
• There are no special rights held through formal or informal arrangements with the company or its other promoters.
• The entity is not represented on the Board of Directors and holds no position as Key Managerial Personnel.
• There is no involvement in the day-to-day management or decision-making processes.
• The entity has no intention to exercise or influence control over the company.

Regulatory process and next steps

The company informed BSE Limited about the receipt of this request on October 6, 2026. The filing included copies of the request letter, requisite declarations, and supporting documents for record-keeping purposes. The Managing Director of Ganon Products, Abhijeet Kacharu Jagtap, signed the disclosure.

Kamla Business Ventures LLP requested the company to initiate the necessary process for reclassification. This involves placing the matter before the Board of Directors and subsequently before the shareholders, as required under applicable provisions of the SEBI LODR Regulations. The entity undertook to provide any further information or documents required by the company, stock exchanges, SEBI, or other regulatory authorities during this process.

Ganon Products Limited passed all resolutions proposed for its 41st Annual General Meeting (AGM) held on September 30, 2026. The meeting was conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM) with the requisite quorum present.

The company disclosed the voting results and the consolidated scrutinizer's report to the BSE on October 3, 2026, pursuant to SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Remote e-voting was open from September 27 to September 29, 2026, while e-voting occurred during the meeting itself. Mr. HRU & Associates, Practising Company Secretary, served as the Scrutiniser.

Voting outcomes on key resolutions

Two primary ordinary resolutions were put to vote: the adoption of the audited financial statements for the year ended March 31, 2026, and the re-appointment of Ravindra Gopale (DIN: 09436362) as a director retiring by rotation. Both resolutions received overwhelming support from shareholders.

The data indicates that out of 611,108 total valid votes cast across both mechanisms, only 3 votes were recorded against each resolution. No invalid votes or abstentions were reported in either category.

Shareholder participation and attendance details

New disclosures reveal specific attendance figures for the virtual meeting. A total of 20 members attended the meeting through Video Conferencing, comprising 1 member from the Promoter and Promoter Group and 19 members from the Public category. The record date for the meeting was September 23, 2026, with a total shareholder count of 3,167 as on the book closure date.

Voting activity was concentrated among Public Non-Institutional shareholders. Promoters and Promoter Group, holding 6,50,372 shares, did not cast any votes during the poll or remote e-voting for either agenda item. Similarly, Public Institutions held no shares and cast no votes. All 611,108 votes polled were contributed by Public Non-Institutional shareholders, representing 7.04% of their total holdings of 86,80,628 shares.

What the numbers show

A close examination of the voting split reveals a distinct pattern in shareholder participation methods and ownership concentration. While remote e-voting accounted for the vast majority of participation (611,105 votes from 74 members), live e-voting during the AGM contributed only 3 votes from 2 members. This suggests that nearly all shareholder engagement occurred prior to the meeting through the NSDL platform, with minimal real-time interaction during the virtual session itself.

Furthermore, the disparity between promoter holdings and voting activity is notable. Despite promoters holding approximately 7% of the total outstanding shares (6,50,372 out of 93,31,000), they abstained from voting on both routine operational matters. This places the entire weight of the approval on public retail investors, who voted overwhelmingly in favour (99.999%), indicating strong alignment between management proposals and minority shareholder interests.