GNFC Shareholders Approve Chairman Appointment with 96.75% Majority in Postal Ballot
Gujarat Narmada Valley Fertilizers & Chemicals successfully completed its postal ballot process with overwhelming shareholder support. The company received 96.75% approval for appointing Shri Manoj Kumar Das as Chairman and 99.99% approval for cost auditor remuneration ratification, with 61.41% voting participation across 280,985 shareholders.
*this image is generated using AI for illustrative purposes only.
Gujarat Narmada Valley Fert & Chem has successfully completed its postal ballot process, with shareholders approving both key resolutions with overwhelming majority. The company announced the voting results on January 2, confirming the appointment of Shri Manoj Kumar Das, IAS as Director and Chairman, and ratification of cost auditor remuneration.
Postal Ballot Process Overview
The e-voting process was conducted from December 3 to January 1, with CS J. J. Gandhi serving as the scrutinizer. Out of 280,985 total shareholders on record date (November 28), significant participation was recorded across all categories.
| Parameter: | Details |
|---|---|
| Total Shareholders: | 280,985 |
| E-voting Period: | December 3 - January 1 |
| Scrutinizer: | CS J. J. Gandhi (FCS No.: 3519) |
| Results Declaration: | January 2 |
| Total Shares Outstanding: | 146,940,683 |
Resolution 1: Chairman Appointment Results
The appointment of Shri Manoj Kumar Das, IAS (DIN: 06530792) as Director and Chairman received strong support across all shareholder categories with 96.75% approval.
| Category: | Votes Polled | Votes in Favour | Approval Rate (%) |
|---|---|---|---|
| Promoter & Promoter Group: | 60,693,667 | 60,693,667 | 100.00% |
| Public Institutions: | 29,443,257 | 26,517,624 | 90.06% |
| Public Non-Institutions: | 95,073 | 86,592 | 91.08% |
| Total: | 90,231,997 | 87,297,883 | 96.75% |
Resolution 2: Cost Auditor Remuneration
The ratification of cost auditor remuneration for M/s. KG Goyal Associates received even stronger support, with 99.99% approval rate.
| Category: | Votes Polled | Votes in Favour | Approval Rate (%) |
|---|---|---|---|
| Promoter & Promoter Group: | 60,693,667 | 60,693,667 | 100.00% |
| Public Institutions: | 29,443,257 | 29,443,257 | 100.00% |
| Public Non-Institutions: | 94,313 | 84,761 | 89.87% |
| Total: | 90,231,237 | 90,221,685 | 99.99% |
Voting Participation Analysis
The postal ballot witnessed substantial participation with 61.41% of total shares being voted. Promoter and promoter group showed complete participation with 100% voting, while public institutions demonstrated high engagement at 87.15% participation rate.
Regulatory Compliance
The postal ballot process was conducted in full compliance with the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and MCA circulars. The company dispatched notices via email on December 1 and published public advertisements in Business Standard (English) and Loksatta Jansatta (Gujarati) on December 2.
The successful completion of this postal ballot process demonstrates GNFC's commitment to transparent governance and shareholder engagement, with both resolutions now formally approved and effective from January 1.
Historical Stock Returns for Gujarat Narmada Valley Fert & Chem
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.14% | -8.08% | +2.89% | +31.60% | +16.14% | +21.50% |
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