BRIEF PROCEEDINGS OF 31ST ANNUAL GENERAL MEETING('AGM') OF VUENOW INFRATECH LIMITED HELD ON MONDAY, 29TH SEPTEMBER, 2025
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Vuenow Infratech Limited held its 31st Annual General Meeting on Monday, 29th September 2025 via video conferencing from 3:43 PM to 3:58 PM, with 38 members attending (1 promoter, 37 public) out of 16,340 total shareholders on record. The meeting covered 12 resolutions across ordinary business (adoption of FY25 audited financials, re-appointment of Managing Director Rahul Anandrao Bhargav, and re-appointment of statutory auditors NYS and Company) and special business. Special business included alteration of the Object Clause of the Memorandum of Association, appointment of new secretarial auditors, regularization of two independent directors, increase in authorized share capital, increase in borrowing limits and Section 186 investment thresholds, and creation of charges on company assets. A major item was approval for preferential issuance of up to 59,99,736 equity shares through a share swap with shareholders of Mahakal Devcon Limited. Voting results were to be announced within 2 working days.
Shareholders approved a significant share swap transaction (nearly 60 lakh new equity shares to be issued to Mahakal Devcon shareholders), along with expansion of borrowing powers and authorized capital — indicating potential business expansion or acquisition activity. The increase in Section 186 limits and borrowing powers gives the company greater financial flexibility, though it may lead to higher leverage or related-party exposure.