IFL Enterprises Shareholders Approve Key Resolutions at Adjourned AGM
IFL Enterprises concluded its adjourned 16th AGM with unanimous shareholder approval for all resolutions, including key leadership appointments and a significant business diversification into organic waste management and environmental sustainability. The company approved new object clauses enabling expansion into clean energy and green technologies while strengthening governance through new secretarial auditor appointments.
*this image is generated using AI for illustrative purposes only.
IFL Enterprises Limited successfully concluded its adjourned 16th Annual General Meeting on December 9, 2025, with shareholders approving all six resolutions presented. The meeting, held at the company's registered office in Ahmedabad, saw participation from 198,893 shareholders on record date, with 36 attending personally and additional participation through remote e-voting.
AGM Resolutions and Voting Results
All resolutions were passed with requisite majority through a combination of remote e-voting and poll voting. The voting period for remote e-voting remained open from December 6 to December 8, 2025.
| Resolution Details | Votes in Favor | Votes Against | Approval % |
|---|---|---|---|
| Financial Statements Adoption | 14,778,041 | 2,997,111 | 83.14% |
| Consolidated Statements Adoption | 14,777,576 | 2,997,152 | 83.14% |
| Director Appointment (Meet Chhatrala) | 14,774,960 | 2,999,768 | 83.12% |
| Managing Director Re-appointment | 14,775,343 | 2,999,809 | 83.12% |
| Object Clause Alteration | 17,774,617 | 1,111 | 99.99% |
| Secretarial Auditor Appointment | 14,693,919 | 3,081,809 | 82.66% |
Key Leadership Appointments
Shareholders approved the appointment of Mr. Meet Sureshbhai Chhatrala (DIN: 10778872) as Executive Director, liable to retire by rotation. Additionally, the re-appointment of Mr. Didawala Akshay Kumar Shailendra (DIN: 11121864) as Managing Director for a five-year term effective from September 8, 2025, was approved.
Business Diversification Initiative
A significant special resolution was passed to alter the company's Memorandum of Association, adding two new business objectives:
Organic Waste Management: The company will engage in collection, segregation, treatment, and recycling of biodegradable waste into compost, bio-fertilizers, biogas, and other eco-friendly products. This includes establishing composting units, waste-to-energy plants, and providing consultancy services.
Environmental Sustainability: The company will diversify into environmentally sustainable sectors including clean energy, green technologies, and resource recovery through investments, strategic partnerships, and allied ventures.
Audit and Governance Updates
Shareholders approved the appointment of M/s. Divya Mohta Associates as Secretarial Auditors for five consecutive years from 2025-26 to 2029-30. This appointment strengthens the company's governance framework alongside the previously reported statutory auditor changes.
Previous Financial Performance Context
The approved financial statements reflect the company's improved performance with total income of ₹851.65 lakhs in Q2 2025 compared to ₹272.93 lakhs in the previous year. However, the financial statements came with auditor disclaimers regarding documentation and verification processes, which the management has committed to addressing.
Scrutinizer Confirmation
Ms. Vishakha Agrawal, Practicing Company Secretary from Indore, served as the scrutinizer for the e-voting process, ensuring transparency and compliance with regulatory requirements under the Companies Act, 2013.
The successful completion of the AGM with strong shareholder support for strategic initiatives positions IFL Enterprises for expansion into sustainable business segments while addressing previous governance concerns.
Historical Stock Returns for IFL Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.89% | 0.0% | -11.48% | -53.45% | -41.94% | +10.20% |
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