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New Swan Multitech Limited held its 11th Annual General Meeting on 30th September 2025 via video conferencing, from 3:00 PM to 4:00 PM. Out of 7 resolutions, 6 were passed with 100% assent (14,106,200 votes). These included adoption of FY25 audited financial statements, declaration of a final dividend for FY 2024-25, re-appointment of Managing Director Upkar Singh (via rotation), approval of Cost Auditor's remuneration, enhancement of Whole-Time Director Barunpreet Singh Ahuja's remuneration, and appointment of M/s M.G. Jindal & Associates as Secretarial Auditor for 5 years. However, the Special Resolution seeking approval for payment of remuneration to Managing Director Upkar Singh (Item 5) was REJECTED, with 14,106,160 dissenting votes and 40 abstentions.
The rejection of the Managing Director's remuneration resolution is a notable negative signal, as it could create governance uncertainty around executive compensation. The 100% uniform voting pattern suggests highly concentrated shareholding, meaning outcomes largely depend on promoter decisions. Dividend declaration and re-appointment of MD were routine and shareholder-friendly, but the failed remuneration vote may warrant attention from minority shareholders.