Indo-National Limited has informed the Exchange regarding Proceedings of Court Convened General Meeting held on Jun 21, 2025
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Indo-National Limited held an NCLT-ordered meeting of equity shareholders on June 21, 2025, via video conferencing to consider a Scheme of Amalgamation with Helios Strategic Systems Ltd under Sections 230-232 of the Companies Act, 2013. The required quorum was 2,780 shareholders, but the meeting was adjourned by 30 minutes after insufficient attendance at the scheduled start. Upon reconvening at 10:32 AM, only 38 shareholders were present, which was treated as valid quorum. Remote e-voting was open from June 18-20, 2025, with the cut-off date being June 14, 2025. The detailed voting results and the Scrutinizer's report (to be prepared by Mr. Sriram Ananth. V, Advocate) are awaited and will be shared within the prescribed timeline.
The outcome of this shareholder vote will determine whether the proposed amalgamation with Helios Strategic Systems Ltd proceeds. Investors should await the scrutinizer's report and voting results, as approval could lead to a change in the company's capital structure and business profile, while rejection could halt the merger plan.