TANFAC Industries Limited Shareholders Approve All Resolutions at Extra-Ordinary General Meeting

TANFAC Industries Limited has announced the successful completion of its Extra-Ordinary General Meeting held on February 23, 2026, with shareholders approving all five proposed resolutions with requisite majority. The meeting was conducted through video conferencing in compliance with regulatory requirements. Meeting Overview and Participation The Extra-Ordinary General Meeting was held from 11:00 AM to 11:30 PM on February 23, 2026, with the record date set as February 16, 2026. The company had 19,232 shareholders on the record date, with 41 shareholders attending the meeting through video conferencing. Meeting Details: Information Meeting Date: February 23, 2026 Meeting Duration: 11:00 AM to 11:30 PM Record Date: February 16, 2026 Total Shareholders: 19,232 Attendees via VC: 41 (2 Promoters, 39 Public) Scrutinizer: Mohan Baid, M D Baid & Associates Voting Results and Shareholder Response The voting process demonstrated strong shareholder support across all categories. Out of 9,975,000 total shares, 5,172,003 shares participated in voting, representing 51.85% of outstanding shares. The voting pattern remained consistent across all five resolutions. Voting Summary: Details Total Outstanding Shares: 9,975,000 Shares Voted: 5,172,003 Voting Percentage: 51.85% Votes in Favour: 5,171,974 (99.99%) Votes Against: 29 (0.00%) Approved Resolutions All five resolutions were passed with overwhelming majority support: • Resolution 1 (Ordinary): Approval for subdivision of equity shares of the company • Resolution 2 (Ordinary): Approval for alteration of the Capital Clause of the Memorandum of Association • Resolution 3 (Special): Approval for raising funds up to ₹500 crores through issuance of securities • Resolution 4 (Ordinary): Change in designation of Mr. Afzal Harunbhai Malkani from Non-Executive Non-Independent Director to Managing Director • Resolution 5 (Ordinary): Appointment of Mrs. Sandhya Venugopal Sharma as Nominee Director (Non-executive) Fundraising and Capital Structure Changes The special resolution for fundraising represents a significant corporate development. The approved fundraising involves issuance of up to 10,00,000 equity shares of face value ₹10 each, aggregating up to ₹500 crores. Post the proposed subdivision of equity shares, this translates to up to 20,00,000 equity shares of face value ₹5 each, maintaining the same aggregate value of ₹500 crores. Leadership Changes The meeting approved key leadership appointments. Mr. Afzal Harunbhai Malkani's designation change from Non-Executive Non-Independent Director to Managing Director reflects the company's strategic leadership restructuring. Additionally, Mrs. Sandhya Venugopal Sharma's appointment as Nominee Director strengthens the board composition. Regulatory Compliance The company submitted the e-voting results and consolidated scrutinizer's report to BSE Limited on February 24, 2026, in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer's report was prepared by CS Mohan Baid of M D Baid & Associates, who was appointed by the Board of Directors on January 29, 2026. Catalyst Trusteeship Limited has filed a regulatory disclosure regarding the creation of encumbrance on shares of Tanfac Industries Limited under SEBI's substantial acquisition regulations. The disclosure, dated February 18, 2026, pertains to a non-disposal undertaking created on February 14, 2026. Transaction Details The encumbrance involves 25,73,081 equity shares of Tanfac Industries, representing 25.80% of the company's total equity share capital. Catalyst Trusteeship Limited is acting as an onshore security agent in this transaction and is not part of the promoter or promoter group of Tanfac Industries. Parameter: Details Acquirer: Catalyst Trusteeship Limited Target Company: Tanfac Industries Limited Transaction Type: Creation of non-disposal undertaking Date of Acquisition: February 14, 2026 Shares Encumbered: 25,73,081 equity shares Percentage Stake: 25.80% Holdings Comparison The disclosure shows Catalyst Trusteeship's holdings before and after the encumbrance creation: Holdings Status: Before Acquisition After Acquisition Voting Rights Shares: NIL NIL Encumbered Shares: NIL 25,73,081 (25.80%) Total Holdings: NIL 25,73,081 (25.80%) Share Capital Structure Tanfac Industries currently has 99,75,000 equity shares as per the publicly available shareholding pattern dated December 31, 2025. However, the company's board approved a share split on January 9, 2026, which will increase the total equity shares to 1,99,50,000 upon completion. Share Capital Details: Current Post Share Split Total Equity Shares: 99,75,000 1,99,50,000 Encumbered Shares: 25,73,081 51,46,162 Percentage: 25.80% 25.80% Regulatory Compliance The disclosure was filed with BSE Limited and National Stock Exchange of India Limited, where Tanfac Industries' shares are listed. Deesha Srikkanth, Senior Vice President at Catalyst Trusteeship Limited, signed the disclosure as the authorized signatory from Mumbai. Corporate Action Impact The pending share split will effectively double the number of encumbered shares to 51,46,162, while maintaining the same percentage holding of 25.80%. This encumbrance represents a significant stake in Tanfac Industries and demonstrates Catalyst Trusteeship's role as a security agent in what appears to be a structured financing arrangement. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. 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