JBM Auto Limited has successfully secured shareholder approval for its proposed Rs 1,450 crore related party transaction with subsidiary JBM Ecolife Mobility Private Limited. The postal ballot results, announced on December 12, 2025, showed overwhelming support from shareholders with the resolution passing by a significant majority.
Postal Ballot Results
The voting process concluded on December 10, 2025, with scrutinizer Dhananjay Shukla submitting his report confirming the resolution's passage. The detailed voting results demonstrate strong shareholder confidence in the proposed transaction:
| Voting Category |
Shares Held |
Votes Polled |
% Polled |
Votes in Favour |
% in Favour |
| Public Institutions |
45,82,508 |
41,99,831 |
89.69% |
38,90,816 |
92.64% |
| Public Non-Institutions |
7,21,03,470 |
3,61,63,506 |
50.16% |
3,58,93,506 |
99.26% |
| Total |
4,03,67,272 |
4,00,54,322 |
47.06% |
3,97,84,322 |
99.22% |
A total of 435 members participated in the voting process, with seven members holding 425 votes choosing to abstain from the voting.
Scrutinizer Report Details
Mr. Dhananjay Shukla, Practicing Company Secretary and Managing Partner of M/s. Dhananjay Shukla & Associates, was appointed as the scrutinizer for the postal ballot process. The scrutinizer confirmed that the ordinary resolution for material related party transactions with JBM Ecolife Mobility Private Limited was passed with the requisite majority.
| Process Details |
Information |
| E-voting Period |
November 11 to December 10, 2025 |
| Cut-off Date |
October 31, 2025 |
| Total Shareholders on Record |
1,89,399 |
| Scrutinizer |
Dhananjay Shukla (FCS No. 5886) |
Transaction Overview
The approved transactions, valued at up to Rs 1,450 crores, involve various forms of financial support to JBM Ecolife Mobility Private Limited, including:
- Undertakings
- Sponsor support
- Comfort letters
- Indemnity
- Other financial assistance
Subsidiary Focus
JBM Ecolife Mobility Private Limited, in which JBM Auto holds an 83% stake, operates in the electric vehicle ecosystem with focus on:
- Electric bus operations
- Supply, operation, and maintenance of electric buses
- Related EV infrastructure development
Regulatory Compliance
The approval process followed SEBI regulations requiring shareholder consent for material related party transactions exceeding Rs 1,000 crores or 10% of annual consolidated turnover. The company complied with MCA circulars by sending the postal ballot notice only through e-mail to all members whose names appeared on the Register of Members as of the cut-off date.
Strategic Implications
This overwhelming approval reflects strong shareholder confidence in JBM Auto's strategy to support its subsidiary's expansion in the electric vehicle sector. The substantial financial backing positions JBM Ecolife Mobility to accelerate growth and strengthen its market position in India's evolving EV landscape.
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