Confidence Petroleum shareholders back three director appointments at EGM

Confidence Petroleum India Limited secured overwhelming shareholder approval at its Extraordinary General Meeting (EGM) on February 27, 2026, with more than 99% votes in favour of appointing three directors, underscoring strong confidence in the company’s board restructuring and governance strategy.

Confidence Petroleum India Limited successfully concluded its Extraordinary General Meeting (EGM) on February 27, 2026, with shareholders extending near-unanimous support to three key director appointments. The meeting, held via video conferencing in line with regulatory norms, highlighted robust shareholder confidence in the company’s leadership and governance framework.

Strong Participation and Voting Turnout

The EGM had a record date of February 20, 2026, covering a shareholder base of 111,392. A total of 36 shareholders attended the meeting virtually, including seven from the promoter and promoter group and 29 from the public category.

Overall, 153,656,066 votes were cast, representing 46.25% of the company’s 332,241,043 outstanding equity shares.

Director Appointments Approved

All three special resolutions placed before shareholders received more than 99% approval, reflecting overwhelming consensus.

Mrs. Nimisha Rohit Agrawal (DIN: 11442309) was appointed as a Non-Executive Independent Director, with 153,645,472 votes in favour (99.99%) and 10,594 votes against.

Mr. Prasad Manjarkhede (DIN: 11521864) was approved as an Executive Director, securing 153,656,021 votes in favour (99.99%) and just 45 votes against — the highest level of support among the resolutions.

Mrs. Ketki Mahendra Save (DIN: 07171129) was appointed as a Non-Executive Non-Independent Director, with 153,645,870 votes in favour (99.99%) and 10,196 votes against.

Category-wise Voting Pattern

The promoter and promoter group voted unanimously in favour of all resolutions, casting 152,329,035 votes, which represented 82.04% of their total shareholding. Public institutional shareholders also showed strong alignment, with 1,128,361 votes polled (65.72% of their holdings). Participation from public non-institutional shareholders remained relatively low, with 198,670 votes cast, accounting for 0.13% of their holdings.

Scrutinizer’s Confirmation

The voting process, conducted through NSDL’s e-voting platform from February 24 to February 26, 2026, was independently reviewed by scrutinizer Siddharth Sipani of Siddharth Sipani & Associates. In his report dated February 28, 2026, he confirmed that all three special resolutions were passed with the requisite majority and that no invalid votes were recorded.

Governance Signal

The decisive outcome of the EGM reinforces shareholder confidence in Confidence Petroleum India Limited’s board composition and strategic direction, positioning the company to strengthen governance standards and support its long-term growth plans.