IITL Projects Limited has secured shareholder approval for modifying the redemption terms of its preference shares through a special resolution passed via postal ballot. The company informed BSE Limited on January 09, 2026, about this significant corporate development.

Shareholder Resolution Details

The shareholders granted their approval through a special resolution conducted via postal ballot using remote e-voting mechanism. This approval specifically covers the variation in redemption terms of the company's preference shares issued to its holding company.

Corporate Structure and Compliance

The preference shares in question were issued to Industrial Investment Trust Limited, which serves as the holding company of IITL Projects Limited. The variation in redemption terms required shareholder approval as mandated under corporate governance regulations.

Regulatory Disclosure

This disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The company had previously communicated about this matter on December 08, 2025, indicating the structured approach taken for this corporate action.

The formal communication was signed by Ms. Harshida J. Parikh, Manager and Company Secretary, and submitted to BSE Limited's Corporate Relationship Department. The company trades on BSE under the code 531968.

IITL Projects Limited has announced the successful completion of its postal ballot process for approving variation in the terms of redemption of preference shares. The company disclosed the voting results on January 09, 2026, following the conclusion of the remote e-voting process that ended on January 08, 2026.

Postal Ballot Resolution Details

The postal ballot sought shareholder approval for a special resolution regarding the variation in terms of redemption of 70,00,000 Zero% Non-Convertible Redeemable Preference Shares issued to the holding company, Industrial Investment Trust Limited. The resolution was deemed passed on January 08, 2026, with the requisite majority as per regulatory requirements.

Voting Timeline and Process

The postal ballot process was conducted entirely through remote e-voting in compliance with MCA General Circulars. The company followed a structured timeline for the voting process, ensuring adequate time for shareholder participation.

Voting Results and Participation

The voting results revealed unanimous support for the resolution, though participation was limited to a small fraction of shareholders. Notably, promoter and promoter group shareholders, despite holding 3,580,347 shares, did not participate in the voting process.

Scrutinizer's Oversight

The postal ballot process was overseen by Chandanbala O. Mehta, Practicing Company Secretary (Membership No. F6122), who served as the appointed scrutinizer. The scrutinizer's report, dated January 08, 2026, confirmed the validity of the voting process and results. The votes were unblocked on January 08, 2026, at 5:04 PM in the presence of two independent witnesses, Mr. Harsh Vyas and Mrs. Monika Thanvi.

Regulatory Compliance

The postal ballot was conducted in accordance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Sections 108 and 110 of the Companies Act, 2013. The company published advertisements about the postal ballot notice dispatch in The Free Press Journal (English) and Navshakti (Marathi) on December 09, 2025. The voting results and scrutinizer's report have been uploaded on the company's website at www.iitlprojects.com and CDSL's website at www.evotingindia.com as per regulatory requirements.