Jhaveri Credits & Capital shareholders unanimously approved all four resolutions at the 32nd Annual General Meeting held on September 25, 2026. The meeting, conducted via video conferencing, saw a voting turnout of 62.88% of outstanding shares.

The agenda included the adoption of audited financial statements for FY26 and the reappointment of director Vishnukumar Vitthaldas Patel. Crucially, shareholders granted the Board authority to borrow money in excess of the company's paid-up share capital and free reserves under Section 180(1)(c) of the Companies Act, 2013. This special resolution received overwhelming support, with 99.99% of votes polled in favor.

Voting participation and outcomes

The total number of shareholders on the record date was 4,072. Voting was conducted through remote e-voting and e-voting during the meeting. The promoter group, holding 4,861,681 shares, voted in favor of all resolutions. Public non-institutional shareholders holding 4,231,535 shares participated with a turnout of 26.07%, casting 1,103,369 votes. Institutional public shareholders did not cast any votes.

What the Numbers Show

The voting data reveals a highly concentrated shareholder base where promoter holdings dictate the outcome. Promoters held 51.25% of the total outstanding shares (4,861,681 out of 9,485,936). Since promoters voted 100% in favor, they alone secured more than half the votes required for ordinary resolutions. For special resolutions, which typically require a 75% majority, the promoter block combined with the small fraction of dissenting public votes (113 votes against) resulted in a near-unanimous approval rate of 99.9981% across all items. The absence of institutional voting (0 votes from institutions holding 392,720 shares) further highlights the dominance of retail and promoter interests in this governance event.

Jhaveri Credits & Capital approved the acquisition of a 51% equity stake in U R Energy (Solar) Private Limited during its board meeting on September 19, 2026. The transaction values the controlling interest at ₹51,000, marking the company’s entry into solar energy manufacturing.

The board also approved changing the company’s name from Jhaveri Credits and Capital Limited to U R Energy (India) Limited. This follows the sanctioning of a scheme of amalgamation between U R Energy Private Limited and Jhaveri Credits and Capital Limited. The name change is subject to member approval and regulatory clearances.

Acquisition Details

U R Energy (Solar) Private Limited operates in the solar energy sector, manufacturing panels, inverters, cables, and electronic accessories. The target entity has an authorized capital of ₹1.00 lakh and paid-up capital of ₹1.00 lakh.

The target company reported nil turnover for FY23, FY24, and FY25. Its net worth stands at -₹81,000. The acquisition is structured as a cash consideration deal. Upon completion, U R Energy (Solar) Private Limited will become a subsidiary of Jhaveri Credits & Capital.

Strategic Shift

The board approved altering the main object clause of the Memorandum of Association to align with renewable energy operations. The new clause covers manufacturing solar modules, inverters, batteries, and Battery Energy Storage Systems (BESS). It also includes engineering, procurement, and construction (EPC) activities for solar, wind, and hybrid power plants.

The company will engage in developing renewable energy projects, including Compressed Bio-Gas (CBG) plants. It plans to execute Power Purchase Agreements (PPAs) and manage transmission and distribution infrastructure. These changes require member approval via postal ballot.

Governance Actions

The board appointed National Securities Depository Limited (NSDL) as the remote e-voting agency for the postal ballot resolutions. M/s Siddharth Sipani & Associates was appointed as the scrutinizer for the voting process. The postal ballot notice will be submitted to the stock exchange after emailing eligible shareholders.