Shareholding6 Aug 2026, 06:00 pm
Shri Vasuprada Plantations: Promoter Group Gains Voting Rights
AI Summary
Shri Vasuprada Plantations Ltd has announced that 24,00,000, 6% Non-Convertible Redeemable Preference Shares, issued to the Promoter/Promoter Group during FY 2022-23, have remained unpaid for three years. Consequently, these preference shareholders have acquired voting rights for all resolutions at the upcoming AGM on August 31, 2026, equivalent to equity shareholders as per Section 47(2) of the Companies Act, 2013. The voting rights are proportional to the paid-up capital of preference shares versus equity shares.
Key Highlights
- 24 lakh preference shares issued to promoter group now carry voting rights.
- Unpaid dividends for three years triggered the voting rights acquisition.
- Voting rights are proportional to paid-up capital of preference shares.
- AGM on August 31, 2026, will see these preference shareholders vote.
Price Impact
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