K G Denim shareholders approve sale of undertaking

K G Denim Limited shareholders have approved the sale of a substantial undertaking, comprising non-factory vacant land in Coimbatore, through a postal ballot process. The special resolution received 99.93% assent, with public shareholders also voting in favour of the proposal. The undertaking spans 19.35 acres at Karamadai, Tamil Nadu.

The resolution sought approval to sell or otherwise dispose of the land pursuant to Section 180(1)(a) of the Companies Act, 2013. The postal ballot notice was sent to members on 9th June 2026, with the remote e-voting period open from 10th June 2026 to 9th July 2026. The scrutinizer's report confirmed the resolution was passed with the requisite majority.

Voting Results

A total of 75 members cast 1,43,79,203 valid votes. The resolution required approval from public shareholders, where votes in favour exceeded those against.

Particulars	No. of E-Votes	No. of Shares	Percentage to valid votes
Net Valid E-Votes	75	1,43,79,203	100.00
Assent	65	1,43,68,419	99.93
Dissent	10	10,784	0.07

Public Shareholder Voting

The proposal also satisfied the regulatory requirement for public shareholder approval under SEBI regulations.

Particulars	No. of E-Votes	No. of Shares	Percentage to Total Votes
Votes in Favour	53	3,93,972	97.34
Votes Against	10	10,784	2.66

M D Selvaraj, FCS, Managing Partner of MDS & Associates LLP, served as the scrutinizer for the postal ballot. The Board of Directors had appointed him on 29th May 2026 to ensure a fair and transparent voting process. The results were declared on 9th July 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.33%	-0.72%	-3.68%	-7.90%	-13.27%	-63.82%

K G Denim Limited has initiated a postal ballot process to seek shareholder approval for the sale of non-factory vacant land in Coimbatore, Tamil Nadu, as part of a restructuring scheme with bankers. The company intends to utilize the proceeds from the sale to reduce its long-term and short-term debts and meet other business requirements. The resolution requires a special resolution under Section 180(1)(a) of the Companies Act, 2013.

The land, measuring 19.35 Acres, is situated in various S.F Nos at Karamadai, Coimbatore District. The Board of Directors has been authorized to sell or dispose of the undertaking in one or more tranches on an "as is where is" basis for consideration not less than the market price. The company stated that it is in the process of identifying potential buyers who are not related parties.

Postal Ballot and E-Voting Schedule

The remote e-voting facility is provided by Central Depository Services (India) Limited (CDSL). The voting period commenced on June 10, 2026, at 9.00 AM IST and will conclude on July 9, 2026, at 5.00 PM IST. Shareholders whose names appear in the Register of Members or Beneficial Owners as on the cut-off date of June 5, 2026, are eligible to vote.

Event	Date	Time
E-voting Commencement	June 10, 2026	9.00 AM IST
E-voting Conclusion	July 9, 2026	5.00 PM IST
Cut-off Date	June 5, 2026	-

Regulatory and Procedural Details

The postal ballot notice was sent in compliance with Section 110 of the Companies Act, 2013, read with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sri. M. D. Selvaraj, FCS, Managing Partner of MDS & Associates LLP, has been appointed as the Scrutinizer to ensure the process is conducted fairly.

The results of the postal ballot will be announced within two working days from the conclusion of the e-voting period. The special resolution will be acted upon only if the votes cast by public shareholders in favour exceed the votes cast against it, as per the proviso to Regulation 37A of the SEBI LODR Regulations.