Mayur Uniquoters Limited shareholders rejected the re-appointment of Arun Bagaria as Whole Time Director designated as Executive Director during its 33rd Annual General Meeting held on September 18, 2026. The special resolution required a 75% majority but secured only 70.44% support, failing to pass.

The meeting, conducted via video conferencing from Jaipur, saw participation from 124 members, including five promoters and 119 public shareholders. Chairman and Managing Director Suresh Kumar Poddar was unable to speak due to health reasons; Arun Bagaria addressed the meeting on his behalf.

Key Resolutions Passed and Rejected

Shareholders approved five of the six resolutions placed before them. These included the adoption of standalone and consolidated audited financial statements for FY26, the declaration of a ₹6 final dividend, and the ratification of the cost auditor’s remuneration for FY27. Vinod Kumar Haritwal was appointed as an Independent Director.

Mr. Bagaria was re-appointed as a director retiring by rotation under an ordinary resolution, which passed with 70.40% support. However, the separate special resolution to designate him as Executive Director w.e.f. August 1, 2027, failed despite receiving 19.76 million votes in favour.

Voting Breakdown

The failure of the executive director resolution stemmed from significant opposition within both promoter and institutional blocks. Promoter group shareholders voted against the resolution with 29.51% dissent, while public institutional holders showed 35.92% opposition. Public non-institutional shareholders largely supported the move, with only 0.05% voting against.

In contrast, the appointment of Mr. Haritwal as Independent Director passed comfortably with 99.38% support. Promoters voted unanimously in favour, while public institutions showed 8.29% dissent.

New Director Profile

Mr. Haritwal (DIN: 00588079) is a Commerce Graduate and LLB holder with a Diploma in Gem Mining from Australia. He brings extensive experience in directorships involving joint ventures with the governments of Orissa, Zambia, and Zimbabwe.

He holds memberships through his companies in the Confederation of Indian Industry (CII), Indian Green Building Conference (IGBC), Indian Rubber Materials Research Institute (IRMRI), All India Rubber Industries Association (AIRIA), Federation of Mining Association of Rajasthan (FOMAR), and Confederation of Real Estate Developers of India (CREDAI). Mr. Haritwal is not related to any existing director of the company and is not debarred from holding office by SEBI or other authorities.

Governance and Compliance

The Company Secretary confirmed that statutory and secretarial auditors issued their reports without any qualification remarks. E-voting facilities were provided through Central Depository Services (India) Limited, with remote voting conducted between September 14 and September 17, 2026. CS Manoj Maheshwari served as the scrutinizer for the e-voting process.

The results of the voting, along with the scrutinizer’s report dated September 21, 2026, were submitted to the stock exchanges and made available on the company’s website.

Shareholders of Mayur Uniquoters have rejected an ordinary resolution seeking approval for a related party transaction involving the payment of remuneration to Mrs. Puja Poddar, President of HR and Administration.

The postal ballot process concluded on September 6, 2026, with scrutinizer V. M. & Associates reporting that the resolution failed to secure the necessary majority. The outcome reflects significant opposition from institutional investors, who voted overwhelmingly against the proposal.

Voting Results Breakdown

The total votes polled represented approximately 6.03% of the outstanding shares as on the record date of July 31, 2026. Promoter and promoter group shareholders, holding 25,538,433 shares, did not cast any votes in this ballot.

What the Numbers Show

The voting pattern reveals a sharp divergence between institutional and non-institutional public shareholders. While non-institutional retail investors supported the resolution with a 98.32% approval rate, institutional holders rejected it by 77.31%. This split resulted in the overall failure of the ordinary resolution, which requires a simple majority of votes cast to pass.

Procedural Details

The company issued the postal ballot notice on July 23, 2026, pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 110 of the Companies Act, 2013. The e-voting facility was provided by Central Depository Services (India) Limited (CDSL).

Manoj Maheshwari of V. M. & Associates served as the independent scrutinizer. The final results were submitted to the BSE and NSE on September 7, 2026.