Disclosures in pursuance of Reg 44 of SEBI LODR - Revision Outcome
PARACABLES · price
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Paramount Communications Limited held an Extraordinary General Meeting on August 18, 2025, via video conferencing, where four special resolutions were put to vote. Of the 149,579 shareholders on record, 106 members attended through VC (16 from promoter group and 90 from public). Three resolutions passed with a strong 94.99% majority in favour: (1) approval to raise funds through eligible securities including convertible debentures, FCCBs, QIPs, or preferential issues; (3) appointment of Mr. Sanjay Kumar Srivastava as Non-Executive Independent Director; and (4) appointment of Mrs. Anjali Verma as Non-Executive Independent Director. Resolution No. 2, which sought approval to issue warrants convertible into equity shares to a promoter group entity on a preferential basis, failed because promoters did not vote and 69.08% of public non-institutional votes were cast against it, with only 30.92% in favour.
Shareholders rejected the preferential warrant issue to the promoter group, blocking further equity dilution to promoter-related entities via this route, which is a positive signal for minority shareholder protection. The passing of the fund-raising resolution gives the company broad flexibility to issue various securities, which may lead to future equity dilution or debt depending on the route and pricing finally chosen.