Bansisons Tea Industries Shareholders Approve Name Change to Novyra Pharmachem

Bansisons Tea Industries Limited has successfully completed its postal ballot process, with shareholders unanimously approving all three proposed resolutions. The company's transformation from tea operations to pharmaceutical manufacturing has received complete shareholder backing through the e-voting process.

Postal Ballot Results Summary

The voting results demonstrate overwhelming shareholder support for the company's strategic transformation:

Key Approved Resolutions

Resolution 1: Object Clause Modification

Shareholders approved the change of Object Clause in the Memorandum of Association, enabling the company to pivot from tea operations to pharmaceutical manufacturing, research, and chemical activities.

Resolution 2: Name Change

The proposal to change the company name from "Bansisons Tea Industries Limited" to "Novyra Pharmachem Limited" received unanimous approval, reflecting the new business direction.

Resolution 3: Asset Disposal

Shareholders endorsed the disposal of company assets under Section 180(1)(a) of the Companies Act, 2013, facilitating the business transformation.

Voting Process Details

The e-voting process was conducted through NSDL's platform from November 29 to December 29. Out of 27,898 total shareholders on record date, 35 shareholders participated in the voting process, representing 805,000 votes or 12.72% of outstanding shares.

The scrutinizer Mrs. Rupal Patel, Practicing Company Secretary, certified the voting results, confirming that all resolutions were passed with the requisite majority. The company has now received formal approval to proceed with its strategic transformation into the pharmaceutical sector.