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.
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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.