vsf projects secured shareholder approval to increase its authorized share capital and amend the capital clause of its Memorandum of Association. The resolutions were passed via remote e-voting, which concluded on July 15, 2026, with the requisite majority required under the Companies Act, 2013 and SEBI Listing Regulations.

The postal ballot process, managed by scrutinizer Mohit Gurjar of P.S. Rao & Associates, sought approval for four special business items. Alongside the capital restructuring, shareholders sanctioned related party transactions with three promoter directors: Narayana Murthy Bobba, Vijaya Lakshmi Bobba, and Lakshminarasimha Bobba Chowdary.

The remote e-voting period commenced on June 16, 2026, and was available to shareholders holding shares as of the cut-off date of June 12, 2026. A total of 55 valid ballots were received for the resolution regarding the capital increase, representing 8,043,155 total valid votes. The resolution received 98.63% approval, with 7,933,211 votes in favor and 109,944 votes against.

For the related party transactions, 44 valid ballots were cast for each resolution. The transactions with Narayana Murthy Bobba and Lakshminarasimha Bobba Chowdary received 3,858,506 votes in favor against 109,945 votes against, while the transaction with Vijaya Lakshmi Bobba received 3,858,506 votes in favor against 109,944 votes against. Votes totaling 4,074,705 from the promoter and promoter group were excluded from the count for resolutions 2, 3, and 4 due to their interest in the matters.

Voting Results Summary

The scrutinizer's report confirms that all proposed resolutions have been passed with the necessary majority and are deemed effective as of the last date of voting.

vsf projects has called a postal ballot to seek shareholder approval for doubling its authorized share capital and securing loans worth ₹15 crore from its promoters. The company aims to increase the authorized capital from ₹17 crore to ₹34 crore by creating 1.7 crore additional equity shares of ₹10 each. This expansion is intended to support the development of its Multi-Product Free Trade Warehousing Zone.

The board is also seeking approval for three related party transactions involving borrowings from promoter directors. The company proposes to avail unsecured, interest-free loans repayable on demand from Narayana Murthy Bobba, Vijaya Lakshmi Bobba, and Lakshminarasimha Bobba Chowdary. Each loan is proposed for an aggregate amount not exceeding ₹5 crore, taking the total potential borrowing to ₹15 crore.

These resolutions are deemed material as the company did not generate any revenue during the immediately preceding financial year, FY 2025-26. The explanatory statement notes that the company has been incurring losses for several quarters and faces increased working capital requirements. The Audit Committee has reviewed and approved these transactions, subject to shareholder consent.

The company has fixed Friday, June 12, 2026, as the cut-off date to determine the entitlement of members to cast their votes. Remote e-voting will commence on Tuesday, June 16, 2026, at 09:00 Hours IST and conclude on Wednesday, July 15, 2026, at 17:00 Hours IST. The results of the postal ballot will be announced within two working days of the conclusion of the voting process.

Mr. Mohit Gurjar, a Practicing Company Secretary and Partner of PS Rao & Associates, has been appointed as the Scrutinizer to ensure the conduct of the postal ballot in a fair and transparent manner. The notice of the postal ballot is available on the company’s website and the CDSL e-voting portal.