VR Woodart Limited successfully concluded its Extraordinary General Meeting on January 14, 2026, with shareholders overwhelmingly approving all 15 proposed resolutions. The company announced the voting results on January 16, 2026, marking a decisive step in its comprehensive business transformation and leadership restructuring.

EGM Voting Results Overview

The EGM witnessed strong shareholder participation with 38 public shareholders attending through video conferencing. All resolutions received overwhelming support, with 99.99% of votes cast in favor across all proposals.

Leadership Appointments Confirmed

Shareholders approved all key leadership appointments with requisite majority:

Corporate Transformation Approved

The most significant resolution - changing the company name from V.R. Woodart Limited to Megamont Limited - received unanimous shareholder support. This change aligns with the company's strategic expansion into petroleum products and mining operations.

Financial and Operational Approvals

Shareholders approved critical financial resolutions enabling business expansion:

The board appointed M/s. KPN & Co. Chartered Accountants as statutory auditors to fill the casual vacancy, replacing M/s. Thakur Vaidyanath Aiyar & Co.

Committee Restructuring and Next Steps

Following the approvals, the company has reconstituted its key committees with the newly appointed directors. The registered office will shift from Walkeshwar, Mumbai to Marol MIDC, Andheri East, Mumbai as part of the corporate restructuring.

The voting process was conducted through remote e-voting from January 11-13, 2026, and physical voting at the EGM venue. Only minimal opposition was recorded, with just 2 votes against each resolution, representing negligible resistance to the transformation plans.

With all regulatory approvals now secured from shareholders, VR Woodart is positioned to complete its transformation into Megamont Limited and commence operations in the petroleum and mining sectors.

V R Woodart Limited has witnessed a significant change in its shareholding structure. Promoter Minal Gaurav Patil has substantially increased her stake in the company through a preferential allotment, marking a notable corporate action.

Key Highlights of the Share Acquisition

• Shares Acquired: 1,24,20,000
• Mode of Acquisition: Preferential Allotment
• Additional Securities: 40,80,000 warrants/convertible securities
• Shareholding Change: Increased from 24.11% to 55.44%

This move represents a significant strengthening of promoter control in VR Woodart Limited, with Minal Gaurav Patil's shareholding more than doubling.

Impact on Ownership Structure

The preferential allotment has resulted in a substantial shift in the company's ownership dynamics:

This change indicates a strong vote of confidence from the promoter in the company's future prospects.

Corporate Governance Update

In a separate development related to VR Woodart's corporate governance:

• The company's statutory auditors, M/s Thakur, Vaidyanath Aiyar & Co, Chartered Accountants (Firm Registration No. 000038N), have tendered their resignation effective November 12, 2025.
• The resignation was attributed to pre-occupation with other assignments.
• The company is now in the process of appointing new statutory auditors.

This change in auditors, while a standard corporate process, underscores the importance of maintaining transparent financial reporting practices, especially in light of significant ownership changes.

The preferential allotment to Minal Gaurav Patil, who is also listed as the Additional Director (Whole-time) and Chairperson of VR Woodart Limited, aligns the interests of the promoter more closely with those of the company. This increased promoter stake may influence the company's strategic direction and performance in the coming months.