N. Ramanathan, partner of M/s. S. Dhanapal& Associates, PCS, who appointed as Scrutinizer for the foresaid postal ballot has submitted the Scrutinizers report dated 19th Dec 2025 addressed ....
CALSOFT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
California Software Company has announced the results of its postal ballot, with all five resolutions passed by shareholders with overwhelming majority (over 99.97% in favour on each). Key approvals include: (1) raising funds up to Rs. 200 Crores via a Qualified Institutional Placement (QIP) of equity shares or convertible securities; (2) Foreign Direct Investment and/or issuance of Foreign Currency Convertible Bonds (FCCBs) of up to USD 100 million; (3) increase in Authorised Share Capital to Rs. 225 Crores with related amendments to the Memorandum of Association; (4) powers to make investments, give loans, guarantees and security in excess of Section 186 limits under the Companies Act; and (5) re-appointment of Mr. R.S. Chandan (DIN: 08849851) as an Independent Director. The e-voting window ran from November 19, 2025 to December 18, 2025, with 119 members participating. Promoter group voted 100% in favour on every resolution; turnout from public non-institutions was modest (7.56% on fully paid-up shares) but nearly unanimous in support.
Shareholders have green-lit a potential combined fund raise of up to Rs. 200 Crore via QIP plus up to USD 100 million via FDI/FCCBs, which could lead to equity dilution depending on pricing and conversion. The hike in authorised capital to Rs. 225 Crores and the expanded Section 186 borrowing/lending powers give the board significant financial flexibility going forward.