Outcome of Board Meeting - Approval of Postal Ballot Notice
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Desco Infratech's Board, meeting on January 17, 2026, approved a Postal Ballot Notice seeking shareholder approval via remote e-voting (January 21 to February 19, 2026, with results by February 21). The Board also approved setting up a wholly-owned subsidiary named Desco Global FZ LLC in the Ras Al Khaimah Economic Zone (RAKEZ), UAE, with Director Pankaj Pruthu Desai authorised to oversee incorporation and operations. CS Mohan D. Baid was appointed as scrutinizer for the postal ballot process. Additionally, the Board acknowledged a penalty imposed by BSE for non-compliance with Regulation 23(9) of SEBI LODR (related to disclosure of related party transactions), stating it was procedural/delayed due to administrative constraints, and confirmed the penalty has been paid.
The UAE subsidiary signals international expansion plans beyond Desco's domestic infrastructure business, which could open new revenue streams but also adds execution and forex risk. Shareholders will need to vote on resolutions via e-voting between Jan 21 and Feb 19, 2026. The acknowledged BSE penalty, though paid, flags a minor governance/compliance lapse on related-party disclosure that investors should monitor, even though the company calls it procedural.