Proceedings of the Adjourned EGM of the Company.
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IDream Film Infrastructure Company held an adjourned EGM on 27th January 2026 at Nanavati Mahalaya, Fort, Mumbai, which started at 11:30 a.m., was halted due to lack of quorum for 30 minutes, and concluded at 12:40 p.m. Seven resolutions were placed before members, including an increase in authorised share capital with MOA amendment, extending loans/investments under Section 186, acquisition of 22,01,680 shares of E-TUNNEL INC., and preferential issue of up to 40 lakh shares to Northvale Capital Partners plus up to 26.64 crore shares on a share-swap basis. Two new Independent Directors (Milan Vinod Chitalia and Suchita Prashant Shah) were proposed for appointment. The Chairperson also updated members on the ongoing SEBI SAST takeover process and noted that BSE's In-Principle approval for the preferential issue is still awaited despite the company replying to raised remarks. Remote e-voting ran from 16-18 January 2026 and ballot voting was held at the meeting, with results pending from the Scrutinizer.
Several value-impacting items are pending shareholder and BSE approval — a large preferential equity issuance (both cash and share-swap), a stake acquisition in E-TUNNEL INC., and a takeover under SEBI SAST regulations could materially affect shareholding structure and dilution. The lack of initial quorum and outstanding BSE In-Principle approval add some uncertainty around the timely execution of these corporate actions.