SATANI BEARINGS LIMITED Submits EGM Voting Results to BSE Under Regulation 44
SATANI BEARINGS LIMITED formally submitted voting results for its April 30, 2026 EGM to BSE, achieving 83.79% voting turnout and 99.999994% approval across all nine resolutions including share split from Rs.10 to Rs.1 face value and enhanced borrowing powers.
*this image is generated using AI for illustrative purposes only.
SATANI BEARINGS LIMITED has formally submitted the voting results and scrutinizer's report for its Extraordinary General Meeting held on April 30, 2026, to the Bombay Stock Exchange Limited under Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission was made on May 2, 2026, by Whole-time Director Tanuj Pareshkumar Satani (DIN: 11387693).
EGM Overview and Participation
The company achieved remarkable shareholder approval across all nine proposed resolutions during the video conference meeting. With 25 shareholders attending through video conferencing (6 promoter group members and 19 public shareholders), the meeting demonstrated strong corporate governance practices. The total voting turnout reached 83.79%, with 16758232 votes polled out of 20000000 outstanding shares as of the record date of April 23, 2026.
| Parameter: | Details |
|---|---|
| Meeting Date: | April 30, 2026 |
| Total Shareholders (Record Date): | 747 |
| Video Conference Attendees: | 25 |
| Total Shares Outstanding: | 20000000 |
| Total Votes Polled: | 16758232 |
| Voting Turnout: | 83.79% |
Resolution-wise Voting Results
All nine resolutions achieved exceptional approval rates, with each receiving 16758231 votes in favour and only 1 vote against, representing a 99.999994% approval rate. The voting was conducted entirely through remote e-voting, with the e-voting period open from April 27, 2026, at 9:00 AM IST to April 29, 2026, at 5:00 PM IST.
Key Corporate Actions Approved
Resolution 1 (Ordinary Resolution): Increase in Authorised Capital of the Company was approved to support future growth initiatives.
Resolutions 2-4 (Special Resolutions): Enhanced financial flexibility measures including:
- Increasing borrowing powers under Section 180(1)(c) of the Companies Act, 2013
- Creation of charges, mortgages, and hypothecation on properties under Section 180(1)(a)
- Authorization for investments, loans, and guarantees exceeding Section 186 limits
Resolution 6 (Ordinary Resolution): Share split from face value of Rs.10 to Rs.1 was approved, enhancing liquidity and accessibility for retail investors.
Resolutions 5, 7-8 (Special Resolutions): Corporate restructuring measures including:
- Alteration of Object Clause of Memorandum of Association
- Adoption of new Memorandum of Association
- Adoption of new Articles of Association
Resolution 9 (Special Resolution): Taking on record the certificate issued by Statutory Auditors pursuant to Regulation 45(3) requirements.
Voting Breakdown by Category
The promoter and promoter group demonstrated strong support with 14416533 votes polled from 14451499 shares held, achieving 99.76% participation. Public non-institutional shareholders showed significant engagement with 2341699 votes from 5548501 shares, representing 42.20% participation.
| Category: | Shares Held | Votes Polled | Participation (%) |
|---|---|---|---|
| Promoter & Promoter Group: | 14451499 | 14416533 | 99.76% |
| Public-Institutions: | 0 | 0 | 0% |
| Public-Non Institutions: | 5548501 | 2341699 | 42.20% |
Scrutinizer Report and Compliance
The voting process was overseen by Abhishek Chhajed, Practicing Company Secretary (FCS 11334), Partner of SCS AND CO. LLP, who served as the appointed Scrutinizer. Purva Sharegistry (India) Private Limited provided the e-voting platform services. The votes were unblocked on April 30, 2026, at 5:36 PM in the presence of witnesses Ms. Bhavika Tolani and Ms. Krupa Patel.
The comprehensive documentation submitted to BSE includes detailed resolution-wise voting statistics, with each resolution showing consistent approval patterns across all shareholder categories. The submission ensures full regulatory compliance and transparency, with the company maintaining its commitment to strong corporate governance standards.
How will the approved share split from Rs.10 to Rs.1 face value impact SATANI BEARINGS' stock liquidity and retail investor participation in the coming quarters?
What specific growth initiatives or expansion plans might the company pursue with the increased authorized capital and enhanced borrowing powers?
Will the restructured Memorandum and Articles of Association enable SATANI BEARINGS to enter new business segments or geographical markets?
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