Hat Tip: Safir
It is very rare to see a Promoter vote against his own Company’s Board resolutions.
This astonishing sighting happened in the case of Jyoti Resins & Adhesives Ltd.
On 29 Aug,2016, the Board recommended a stock split of the shares from a FV of Rs.10 per share to FV of Rs.1 per share
However in the AGM held on 30 Sept,2016, the Promoters voted against the resolution thereby blocking it.
Hmm…maybe such resolutions should have waited till the Shraadh period got over !