Riddhi Siddhi Gluco Biols Shareholders Approve Key Related Party Transactions with Bluecraft Agro

1 min read Updated on 11 Aug 2025, 09:49 PM

Reviewed by

Riya DeyScanX News Team

Overview

Riddhi Siddhi Gluco Biols Limited (RSGL) concluded its postal ballot e-voting process with shareholders approving two significant ordinary resolutions related to Bluecraft Agro Private Limited (BAPL). Both resolutions received 98.61% votes in favor. The approved resolutions include making investments in BAPL securities and modifying existing related party transactions with BAPL. Out of 71,29,786 total shares, 2,96,732 votes were polled, representing 4.16% participation. The promoter group, holding 53,14,752 shares, abstained from voting due to their interested party status.

*this image is generated using AI for illustrative purposes only.

Riddhi Siddhi Gluco Biols Limited (RSGL) has successfully concluded its postal ballot e-voting process, with shareholders giving a resounding approval to two significant ordinary resolutions concerning transactions with Bluecraft Agro Private Limited (BAPL).

Voting Results

The e-voting saw strong support from participating shareholders. Both resolutions received an overwhelming 98.61% votes in favor, with only 1.39% against. Out of the total 71,29,786 shares, 2,96,732 votes were polled, representing a 4.16% participation rate.

Key Resolutions Approved

1. Investment in Bluecraft Agro Securities

Shareholders approved material related party transactions for making investments in securities to be issued by Bluecraft Agro Private Limited.

2. Modification of Existing Transactions

The second resolution sanctioned material modifications to existing related party transactions with Bluecraft Agro.

Voting Participation

The company reported a total of 4,361 shareholders as of the cut-off date. Notably, the promoter group, holding 53,14,752 shares, abstained from voting on both resolutions due to their interested party status in these related party transactions.

Scrutinizer's Report

Mr. Kinjal Shah, a Practicing Company Secretary from Ahmedabad, served as the scrutinizer for the postal ballot process. The scrutinizer's report confirmed the validity of the voting process and results.

Management's Response

Sharad Jain, Company Secretary of Riddhi Siddhi Gluco Biols Limited, officially communicated the voting results to the BSE Ltd., in compliance with SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

The strong shareholder support for these resolutions indicates confidence in the company's strategic decisions regarding its relationship with Bluecraft Agro Private Limited. As RSGL moves forward with these approved transactions, stakeholders will be keen to observe how these decisions impact the company's future operations and financial performance.

Note: This article is based on the official postal ballot results and LODR data provided by Riddhi Siddhi Gluco Biols Limited.

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