Harmony Capital Services Limited secured shareholder approval for all seven resolutions proposed in its postal ballot notice dated July 16, 2026. The remote e-voting process concluded on August 16, 2026, with the company confirming that all special and ordinary resolutions were passed with the requisite majority.

The most significant strategic move approved involves the acquisition of up to 63,23,700 equity shares in Truvolt Engineering Co Private Limited. This transaction represents approximately 51% of the paid-up equity share capital of the target entity. Shareholders also approved material related-party transactions with Truvolt Engineering.

Governance Changes

The ballot included structural changes to the company’s leadership and oversight:

• Managing Director Appointment: Mr. Rajesh Ghosh (DIN: 00327645) was approved for a change in designation from Director to Managing Director.
• Independent Directors: Ms. Khusbu Agrawal (DIN: 09847254) and Ms. Sweta Agarwal (DIN: 11247147) were appointed as independent directors.
• Auditor Appointment: An ordinary resolution approved the appointment of a statutory auditor to fill a casual vacancy.

Additionally, shareholders approved an increase in the limit for foreign investor investment to 100% of the paid-up equity share capital.

Voting Patterns

The voting data reveals distinct participation patterns between the promoter group and public shareholders. The promoter group, holding 7,200,000 shares, abstained from voting on the resolutions related to the Truvolt Engineering acquisition and the associated related-party transactions. Consequently, these specific resolutions were carried entirely by votes from public non-institutional shareholders.

In contrast, the promoter group cast 3,650,000 votes in favor of the appointments of the independent directors, the statutory auditor, and the increase in foreign investment limits. Public non-institutional shareholders, holding 4,926,900 shares, polled 2,968,206 votes across all resolutions.

The scrutinizer’s report, issued by Ajay Yadav & Associates on August 17, 2026, confirmed that all resolutions were passed. The record date for the voting rights was July 10, 2026.

Harmony Capital Services Limited appointed Mr. Rajesh Ghosh as a Director, effective June 3, 2026, following the approval of shareholders at the 32nd Annual General Meeting. The appointment comes after Mr. Ghosh was initially inducted as an Additional Director by the Board. Consequently, Mr. Sankalp Kawatra and Mr. Jubin Gada ceased to hold office as Directors with effect from the conclusion of the AGM on the same day, as resolutions for their re-appointment did not receive the requisite member approval.

The company submitted the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Scrutinizer's Report, dated June 4, 2026, confirmed the voting results. Mr. Rajesh Ghosh holds an MBA and brings expertise in business strategy, operations, and organizational management. The Nomination and Remuneration Committee and the Board confirmed that he is not debarred from holding the office of Director by SEBI or any other authority.

Director Changes

The changes in the Board composition were formalized based on the outcomes of the resolutions passed during the meeting held on June 3, 2026.

Ms. Khyati Mishra, Company Secretary and Compliance Officer, confirmed the details in the filing submitted to BSE Limited.