Vishal Mega Mart Concludes Postal Ballot with Overwhelming Director Approvals
Vishal Mega Mart Limited officially declared postal ballot results on December 18, 2025, showing overwhelming shareholder support for two director appointments. The company achieved 89.52% voting participation with 99.16% approval for Vageesh Gupta as Non-Executive Director and 99.84% approval for Yogesh Yadav as Independent Director for a five-year term, reflecting strong confidence in the company's governance structure.
*this image is generated using AI for illustrative purposes only.
Vishal Mega Mart Limited has successfully concluded its postal ballot voting process on December 18, with shareholders demonstrating overwhelming support for the appointment of two new directors to strengthen its board composition.
Official Voting Results Declaration
The company officially declared the postal ballot results under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both resolutions were deemed passed on December 17, being the last date of e-voting, with requisite majority approval from shareholders.
| Resolution Details | Type | Votes in Favor (%) | Votes Against (%) | Total Votes Cast |
|---|---|---|---|---|
| Vageesh Gupta Appointment | Ordinary Resolution | 99.16% | 0.84% | 4,181,693,117 |
| Yogesh Yadav Appointment | Special Resolution | 99.84% | 0.16% | 4,181,697,372 |
Director Appointments Approved
Vageesh Gupta - Non-Executive Director
Shareholders approved the appointment of Mr. Vageesh Gupta (DIN: 07837351) as Non-Executive, Non-Independent Director through an ordinary resolution. The appointment received strong endorsement with 4,146,544,420 votes in favor against 35,148,697 votes opposing the resolution.
| Voting Category | Shares Held | Votes Polled | Support Rate (%) |
|---|---|---|---|
| Promoter Group | 2,527,477,956 | 2,527,477,956 | 100.00% |
| Public Institutions | 1,897,380,897 | 1,622,607,623 | 97.84% |
| Public Non-Institutions | 246,209,073 | 31,607,538 | 99.89% |
Mr. Gupta was initially appointed as Additional Director on November 13, and will be liable to retire by rotation as per company regulations.
Yogesh Yadav - Independent Director
The appointment of Mr. Yogesh Yadav (DIN: 06788269) as Independent Director was approved through a special resolution with even stronger support, receiving 4,175,096,999 votes in favor against only 6,600,373 opposing votes.
| Appointment Terms | Details |
|---|---|
| Position | Independent Director |
| Term Duration | 5 consecutive years |
| Effective Period | November 13 to November 12 (5 years) |
| Retirement Liability | Not liable to retire by rotation |
| Compensation | Sitting fees for board/committee meetings |
Voting Process and Regulatory Compliance
The postal ballot process was conducted in strict compliance with the Companies Act, 2013, and SEBI regulations under the supervision of Mr. Shashikant Tiwari from Chandrasekaran Associates as the independent scrutinizer.
| Process Details | Information |
|---|---|
| E-voting Period | November 18 (9:00 AM) to December 17 (5:00 PM) |
| Cut-off Date | November 7 |
| Total Participation | 89.52% of outstanding shares |
| Scrutinizer | Mr. Shashikant Tiwari, Chandrasekaran Associates |
| Results Declaration | December 18 |
The company dispatched postal ballot notices exclusively through electronic mode to members whose email addresses were registered with depositories or the registrar. Newspaper advertisements were published in Financial Express (English) and Jansatta (Hindi) on November 18, ensuring broad communication reach.
Board Strengthening Initiative
The strong shareholder support for both appointments reflects confidence in the company's governance structure and strategic direction. These appointments are expected to bring additional expertise and independent oversight to Vishal Mega Mart's board as the company continues its growth trajectory in the retail sector. The voting results were officially communicated to NSE and BSE on December 18, completing all regulatory requirements for the director appointments.
Historical Stock Returns for Vishal Mega Mart
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.35% | -3.49% | -8.60% | -11.29% | +17.98% | +11.69% |
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