Modern Denim Limited shareholders approved all three resolutions at the 48th Annual General Meeting held on September 30, 2026. The meeting saw unanimous support from the votes cast, with zero dissent recorded across all agenda items.

The scrutinizer's report, submitted by Jyoti Soni and Associates, confirmed that 13,716,295 votes were polled in favor of each resolution. No votes were cast against any resolution, and no invalid votes were reported. The total number of members present in the meeting was 32, all of whom participated through physical poll or proxy.

Voting turnout and participation

The record date for the meeting was September 23, 2026, with 54,874 shareholders on the register. However, actual participation remained low relative to the shareholder base. The promoter and promoter group held 13,710,555 shares and voted entirely in favor via e-voting. Public institutions, holding 12,180,356 shares, did not cast any votes. Public non-institutional shareholders holding 11,611,089 shares contributed a minimal portion of the total votes polled.

Resolutions passed

The following ordinary and special resolutions were adopted:

1. Adoption of audited financial statements for FY26 along with Board and Auditor reports.
2. Re-appointment of Kedar Mal Ladha as Director, who retired by rotation.
3. Re-appointment of Rahul Singhvi as Independent Director (Special Resolution).

All resolutions passed with 100% of the votes polled in favor. The promoter group's participation was critical to achieving quorum and majority, as they accounted for over 99% of the total votes cast.

What the Numbers Show

The voting data reveals a significant concentration of control and low public engagement. While there were 54,874 registered shareholders, only 32 individuals or entities participated in the physical or proxy voting process. Furthermore, institutional investors holding nearly one-third of the company's share capital (12.18 million shares) abstained from voting entirely. Consequently, the outcome of every resolution was determined almost exclusively by the promoter group, whose 13.71 million shares represented 99.96% of the total votes polled.

Modern Denim Limited submitted its Annual Report for the financial year ended March 31, 2026, along with the Notice convening its 48th Annual General Meeting (AGM). The company filed these documents with the BSE under Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The 48th AGM is scheduled for Wednesday, September 30, 2026, at 1:00 pm at the company's registered office in Sirohi, Rajasthan. The Annual Report and AGM Notice have been dispatched electronically to members with registered email addresses and are available on the company's website.

Meeting proceedings and resolutions

Suvrat Ranka, Joint Managing Director, served as the Chairman for the session in the absence of Sachin Ranka, Chairman and Managing Director. The proceedings began at 1:00 pm and concluded at 1:50 pm, with 32 members present to form the requisite quorum.

The Chairman briefed members on the company's financial performance for FY26. Specific ordinary and special business resolutions were placed before shareholders for approval.

Voting and scrutiny process

The company facilitated remote e-voting for members prior to the meeting. The voting window opened on September 27, 2026, at 9:00 am and closed on September 29, 2026, at 5:00 pm. Members who cast votes electronically were permitted to attend the AGM but could not vote again during the physical meeting.

Jyoti Soni, Proprietor of Jyoti Soni and Associates, was appointed as the scrutinizer to oversee the fair counting of votes from both remote e-voting and ballot papers. The consolidated report on voting results is scheduled for submission within stipulated timelines.

Compliance and conclusion

The meeting adhered to the provisions of the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Secretarial Standards-2 issued by the Institute of Company Secretaries of India. Statutory registers and documents referenced in the notice remained available for inspection throughout the meeting duration.