The company had previously issued 24 lakh, 6% Non-Convertible Redeemable Preference Shares, each valued at Rs. 100 (totaling Rs. 24 crore), to promoter entities.

Dividends on these shares have been unpaid for two consecutive years.

Consequently, these preference shareholders have now acquired voting rights for all resolutions at the upcoming Annual General Meeting, with their power proportional to the paid-up capital of their preference shares relative to equity shares.

This development significantly alters the voting dynamics for future company decisions, granting these shareholders a voice in key matters.