An EGM of the company was held on on 09.12.2025, through VC/OVAM please find 1. Summary of proceedings of the meeting. 2. Voting Results of the Meeting. 3. Scrutinizer''s report.
Awaiting price reaction for this filing.
ARSS Infrastructure Projects held an Extraordinary General Meeting (EGM) on December 9, 2025 via video conferencing, where shareholders approved all six special resolutions. Key approvals include: increasing authorized share capital from ₹55 crore to ₹110 crore (to 11 crore equity shares of ₹10 each), approving borrowing limits up to ₹5,000 crore, creating charges on company assets, approving remuneration of ₹50 lakh/month for Executive Chairman Dipti Ranjan Patnaik and ₹2 lakh/month for Managing Director Gopal Krishna Dash, and appointing Manoranjan Panigrahy as Independent Director for 5 years. The meeting was held to implement the Resolution Plan approved under IBC after Ocean Capital Market Limited's plan was cleared by the Committee of Creditors and the NCLT Cuttack Bench. All resolutions passed with over 99.98% approval; 58 members attended and about 25 lakh votes (6.27% of outstanding shares) were polled.
These approvals are critical milestones in the company's revival from insolvency, paving the way for fresh funds, share capital restructuring, and operational restart under a new resolution applicant (Ocean Capital Market). Shareholders should be aware of significant dilution potential from the authorized capital increase, though completion of the IBC resolution plan is a positive step toward restoring financial health.