Pasupati Fincap EGM Results: All Four Special Resolutions Rejected by Shareholders
Pasupati Fincap Limited's Extra Ordinary General Meeting concluded with the rejection of all four special resolutions by shareholders. The voting results showed insufficient support for corporate restructuring proposals including company name change, share capital reduction scheme, and borrowing authorizations, with detailed scrutinizer report confirming non-compliance with requisite majority requirements.
*this image is generated using AI for illustrative purposes only.
Pasupati Fincap Limited's Extra Ordinary General Meeting held on March 12, 2026, concluded with all four special resolutions being rejected by shareholders, according to the scrutinizer's report submitted on March 13, 2026. The meeting, conducted through video conferencing from 12:00 P.M. to 12:11 P.M. and chaired by Whole Time Director Anil Malik, addressed significant corporate restructuring matters but failed to secure the required majority for any proposed changes.
Meeting Structure and Voting Process
The EGM was conducted with 25 members in attendance, following compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India circulars. The comprehensive e-voting process included remote voting from March 09, 2026, at 9:00 A.M. to March 11, 2026, at 5:00 P.M., with additional voting facility provided during the meeting for attendees who had not participated in remote e-voting. The cut-off date for eligible shareholders was set as March 06, 2026.
| Meeting Details: | Information |
|---|---|
| Total Shareholders on Record: | 2,690 |
| Members Present via VC: | 25 |
| Meeting Duration: | 11 minutes |
| E-voting Platform: | NSDL |
| Scrutinizer: | CS Akash Goel, M/s. Akash & Co. |
Detailed Voting Results
CS Akash Goel of M/s. Akash & Co., Company Secretaries, appointed as scrutinizer, submitted the comprehensive voting report revealing the rejection of all special business items. The voting results showed varying levels of opposition across the four resolutions:
| Resolution: | Description | Votes For | Votes Against | Result |
|---|---|---|---|---|
| 1: | Company name change and MOA/AOA alteration | 243,952 (71.11%) | 99,118 (28.89%) | Rejected |
| 2: | Scheme of arrangement for share capital reduction | 74,563 (20.77%) | 284,407 (79.23%) | Rejected |
| 3: | Borrowing authorization under Section 180(1)(c) | 229,562 (66.91%) | 113,508 (33.09%) | Rejected |
| 4: | Authorization for loans/investments under Section 186 | 243,952 (70.82%) | 100,518 (29.18%) | Rejected |
Shareholder Participation Analysis
The e-voting process facilitated by National Securities Depository Limited recorded participation from 40-42 members across different resolutions. Notably, the promoter and promoter group, holding 542,925 shares, did not participate in the voting process for any resolution. All votes came from the public non-institutional category, representing 4,155,975 shares.
| Shareholder Category: | Shares Held | Participation |
|---|---|---|
| Promoter and Promoter Group: | 542,925 | No votes cast |
| Public-Institutions: | 1,100 | No votes cast |
| Public-Non Institutions: | 4,155,975 | Active participation |
| Total Outstanding Shares: | 4,700,000 | - |
Official Communication and Compliance
Following the EGM results, the company formally intimated BSE Limited about the non-receipt of requisite majority for all special business items on March 13, 2026. The official communication, signed by Whole Time Director Anil Malik, confirmed that the company will not proceed with the proposed changes at this time. The intimation was filed under scrip code 511734 and symbol PASUFIN in compliance with SEBI (LODR) Regulations, 2015.
Future Course of Action
The company has indicated that any future proposals for similar business items will be communicated to the stock exchange in due time, following prescribed timelines under SEBI regulations and related circulars. As stated in the official intimation, the company shall not be moving forward with these proposals at the given point of time, but may reintroduce them before members in the future with proper stock exchange notification.
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