Vishwaraj Sugar passes all 4 resolutions at 31st AGM with clear majority
- All 4 ordinary resolutions at Vishwaraj Sugar Industries' 31st AGM on September 28, 2026 were passed with requisite majority
- Resolution 1 (adoption of FY26 financial statements) received 99.75% votes in favour; Resolution 4 (cost auditor remuneration ratification) received 99.59%
- Mr. Kush Ramesh Katti's reappointment as Director was approved with 99.58% votes in favour; Mrs. Sneha Nithin Dev's reappointment received 99.45%
- Total shareholders on record date stood at 1,46,071; remote e-voting was conducted via Bigshare Services Private Limited from September 25 to September 27, 2026
- Cost auditor M/s. S.K. Tikare & Co. Cost Accountants approved a fee of ₹1,80,000 plus applicable taxes for FY2026-27
*this image is generated using AI for illustrative purposes only.
Vishwaraj Sugar Industries passed all four resolutions at its 31st Annual General Meeting held on September 28, 2026, at its registered office in Bellad Bagewadi, Karnataka, with the requisite majority through remote e-voting and ballot paper voting.
The meeting was presided over by Mr. Nikhil Katti, Chairman and Managing Director. A total of 85 members attended in person or through proxies, drawn from 9 promoter and promoter group shareholders and 76 public shareholders. The total number of shareholders on the record date was 1,46,071. The cut-off date for voting eligibility was September 21, 2026. Remote e-voting was facilitated by Bigshare Services Private Limited, with the voting period running from 9:00 am on September 25, 2026 to 5:00 pm on September 27, 2026.
Board and attendance details
Key managerial personnel and auditors present at the meeting included:
| Role | Name | Affiliation |
|---|---|---|
| Chairman and MD | Mr. Nikhil Katti | Promoter |
| Whole-Time Director | Mr. Kush Katti | Promoter |
| Whole-Time Director | Mr. Mallikarjun Pujar | Non-Promoter |
| CFO | Mr. Sheshagiri Kulkarni | Key Managerial Personnel |
| Statutory Auditor | Mr. Praveen Ghali | M/s. P.G. Ghali & Co. |
Mrs. Sneha Nitin Dev could not attend due to prior commitments, while Company Secretary Mrs. Priya Haria was absent due to maternity leave. Mr. Ramnath Sadekar, Practicing Advocate, was appointed as Scrutinizer by the Board of Directors in its meeting held on August 13, 2026, to oversee the voting process in a fair and transparent manner pursuant to Section 108 of the Companies Act, 2013.
Voting results summary
All four ordinary resolutions were deemed passed as on the date of the AGM. The results, combining remote e-voting and ballot paper voting, are presented below:
| Resolution | Description | Votes in favour (%) | Votes against (%) |
|---|---|---|---|
| Resolution 1 | Adoption of audited financial statements for FY ended March 31, 2026 | 99.75 | 0.25 |
| Resolution 2 | Reappointment of Mr. Kush Ramesh Katti as Director | 99.58 | 0.42 |
| Resolution 3 | Reappointment of Mrs. Sneha Nithin Dev as Director | 99.45 | 0.55 |
| Resolution 4 | Ratification of cost auditor remuneration for FY2026-27 | 99.59 | 0.41 |
Resolution-wise voting details
The detailed voting data across promoter and public non-institutional categories for each resolution is as follows:
Resolution 1 — Adoption of financial statements
| Category | Votes polled | Votes in favour | Votes against |
|---|---|---|---|
| Promoter and Promoter Group | 60,935,038 | 60,935,038 | 0 |
| Public Non-Institutions | 622,311 | 470,505 | 151,806 |
| Total | 61,557,349 | 61,405,543 | 151,806 |
Resolution 2 — Reappointment of Mr. Kush Ramesh Katti
| Category | Votes polled | Votes in favour | Votes against |
|---|---|---|---|
| Promoter and Promoter Group | 35,769,538 | 35,769,538 | 0 |
| Public Non-Institutions | 622,311 | 469,200 | 153,111 |
| Total | 36,391,849 | 36,238,738 | 153,111 |
Resolution 3 — Reappointment of Mrs. Sneha Nithin Dev
| Category | Votes polled | Votes in favour | Votes against |
|---|---|---|---|
| Promoter and Promoter Group | 27,426,593 | 27,426,593 | 0 |
| Public Non-Institutions | 621,011 | 466,350 | 154,661 |
| Total | 28,047,604 | 27,892,943 | 154,661 |
Resolution 4 — Ratification of cost auditor remuneration
| Category | Votes polled | Votes in favour | Votes against |
|---|---|---|---|
| Promoter and Promoter Group | 63,247,310 | 63,247,310 | 0 |
| Public Non-Institutions | 622,311 | 370,614 | 251,697 |
| Total | 63,869,621 | 63,617,924 | 251,697 |
Special business transacted
Shareholders ratified the remuneration payable to cost auditors for FY2026-27. The Board approved a fee of ₹1,80,000 plus applicable taxes and out-of-pocket expenses for M/s. S.K. Tikare & Co. Cost Accountants, as recommended by the Audit Committee, for the audit of cost records for the financial year ending March 31, 2027. The voting results were declared and submitted to the stock exchanges pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Historical Stock Returns for Vishwaraj Sugar Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.07% | +8.11% | -1.06% | +2.75% | -32.61% | 0.0% |
How will the ratification of the cost auditor remuneration for FY2026-27 impact Vishwaraj Sugar's operational compliance costs and margin structure in the upcoming fiscal year?
What strategic initiatives did Chairman Nikhil Katti outline for the company's growth trajectory following the successful passage of all AGM resolutions?
Given the consistent dissent from public shareholders on director reappointments, how does the board plan to address minority shareholder concerns in future governance matters?
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