India Home Loan Limited has announced that shareholders have rejected both resolutions proposed in the postal ballot process conducted through remote e-voting. The company informed the Bombay Stock Exchange on March 9, 2026, that neither resolution secured the requisite majority required for approval.

Postal Ballot Process Details

The postal ballot notice was issued on January 30, 2026, seeking shareholder approval through remote e-voting mode. The voting process commenced on February 5, 2026, at 9:00 AM and concluded on March 6, 2026, at 5:00 PM. The company had 3853 total shareholders as of the cut-off date of January 30, 2026.

Resolution Results

Special Resolution - Managing Director Continuation

The first resolution sought approval for the continuation of Mr. Mahesh Pujara (DIN: 01985578) as Managing Director upon attaining the age of seventy years. This special resolution failed to achieve the required majority with only 45.97% votes in favor.

Ordinary Resolution - Share Capital Increase

The second resolution proposed increasing the authorized share capital and consequential amendment to the Capital Clause of the Memorandum of Association. This ordinary resolution also failed to secure majority approval with 43.99% votes in favor.

Scrutinizer Report

Mr. Himanshu Gajra, Proprietor of Himanshu Gajra & Company (Membership No. F11691), served as the scrutinizer for the postal ballot process. He was appointed by the Board of Directors on January 30, 2026, and submitted his final report on March 9, 2026. The scrutinizer confirmed that both resolutions failed to achieve the requisite majority as per Section 114 of the Companies Act, 2013.

The scrutinizer's report detailed the complete voting process, including the dispatch of postal ballot notices through electronic mode on February 4, 2026, and newspaper advertisements published in Financial Express (English) and Mumbai Lakshdeep (Marathi) on February 5, 2026.

Voting Pattern Analysis

The voting results reveal a clear divide between promoter group and public shareholders. While the promoter group voted unanimously in favor of both resolutions, public non-institutional shareholders overwhelmingly opposed both proposals. Public institutional shareholders, holding 10100 shares, did not participate in the voting process.

The rejection of both resolutions indicates significant opposition from minority shareholders, particularly regarding the continuation of the Managing Director beyond the typical retirement age and the proposed capital structure changes. The voting results and scrutinizer's report are available on the company's website and will also be made available on NSDL's website.

India Home Loan Limited has dispatched a postal ballot notice to shareholders seeking approval for key corporate decisions through remote e-voting. The housing finance company announced the postal ballot process under Regulation 30 of SEBI Listing Regulations, with voting scheduled from February 5 to March 6, 2026.

Postal Ballot Resolutions Overview

The company is seeking shareholder approval for two critical resolutions through the postal ballot process. The notice was dispatched on February 4, 2026, following the Board meeting decisions taken on January 30, 2026.

Managing Director Continuation Proposal

The first resolution seeks approval for continuing Mr. Mahesh Pujara (DIN: 01985578) as Managing Director despite reaching 70 years of age. The Board has recommended his continuation based on his extensive experience and contribution to the company's growth since 2008.

Authorized Share Capital Expansion

The second resolution proposes doubling the company's authorized share capital to facilitate future capital requirements and business expansion. The increase requires consequential amendment to the Memorandum of Association.

E-voting Process and Compliance

The postal ballot will be conducted exclusively through remote e-voting using NSDL's platform, in compliance with MCA circulars and SEBI regulations. The company has appointed Mr. Himanshu Gajra of Himanshu Gajra & Company as the Scrutinizer for the voting process.

Shareholders whose email addresses are registered with the company or depositories as on the cut-off date of January 30, 2026, are eligible to participate in the e-voting process. The results will be declared as per statutory timelines and communicated to BSE Limited and published on the company's website along with the Scrutinizer's report.