Shashijit Infraprojects Limited announced that resolutions 1 through 4 were passed at its 19th Annual General Meeting, while resolution 5 regarding the removal of Chairman and Managing Director Ajit Jain was defeated.

The meeting was held on September 30, 2026, via Video Conferencing. The voting results were declared on October 1, 2026, following scrutiny by Nitesh P. Shah. The company had previously filed revised proceedings on October 1, 2026, to correct a digital signature error in the initial submission, replacing the DSC of Ajit Jain with that of Company Secretary Neha Mewara.

Voting Results Summary

The shareholders voted on five items. Ordinary resolutions for financial statement adoption and director reappointment passed unanimously or near-unanimously. Special resolutions for the appointment of two independent directors also passed. The proposed removal of Ajit Jain received minimal support.

Detailed Vote Analysis

Resolution 5, which sought to remove Ajit Jain from the office of Director, was rejected by a significant margin. Out of 32,958,192 votes polled, only 17,116 votes were cast in favor of the removal, representing 0.05% of the total votes. Conversely, 32,941,076 votes were cast against the resolution, accounting for 99.95% of the total votes polled.

The promoter group, holding 27,461,655 shares, voted entirely against the removal. Among public non-institutional shareholders, who held 5,496,537 shares, only 17,116 shares voted in favor, while 5,479,421 voted against.

Meeting Details and Attendance

The 19th AGM commenced at 3:00 pm and concluded at 3:46 pm. Key managerial personnel and directors in attendance included:

The statutory auditors were represented by Vinayak Bafna, Partner at Kakaria and Associates LLP. Nitesh Shah served as the scrutinizer for the e-voting process.

What the Numbers Show

The voting pattern highlights a stark divergence between promoter and minority shareholder sentiment on governance issues. While promoters voted uniformly against the removal of Ajit Jain, a small fraction of public shareholders (approximately 0.31% of public non-institutional votes polled) supported the removal. However, the overwhelming majority of public votes also aligned against the removal, resulting in a consolidated 99.95% opposition to the resolution.

Shashijit Infraprojects Limited has appointed Asha Shravankumar Khedia and Santosh Kumar Purohit as Independent Directors. The appointments were approved by shareholders at the company's 19th Annual General Meeting held on September 30, 2026.

Both directors were appointed for a term of five consecutive years, effective from August 24, 2026, through August 23, 2031. The company confirmed that both individuals meet the independence criteria prescribed under the Companies Act, 2013, and SEBI Listing Regulations. Neither director is related to any existing directors of the company, nor are they debarred from holding office by any statutory authority.

Director profiles and expertise

The newly appointed directors bring diverse professional backgrounds to the board, spanning corporate governance and civil engineering consultancy.

Khedia possesses over 13 years of experience in taxation, corporate law, and regulatory frameworks. Her expertise includes advising on board processes, compliance management, and risk assessment. Purohit holds a Bachelor of Engineering in Civil Engineering and brings over 35 years of experience in construction and technical consultancy. His background includes evaluating construction works against applicable technical standards and regulatory requirements.

Governance implications

The addition of these independent directors strengthens the board's oversight capabilities. The inclusion of a qualified Company Secretary enhances the board's capacity to manage regulatory compliance and corporate governance matters. Simultaneously, the appointment of a seasoned civil engineer aligns with the company's core business as construction engineers, providing technical depth to board discussions on project execution and quality control.