SCRUTINIZER REPORT ISSUED BY AAKASH MODH FOR THE NCLT CONVENED MEETING HELD ON 03RD SEPTEMBER, 2025
Awaiting price reaction for this filing.
Citizen Infoline Limited held an NCLT-convened meeting of equity shareholders on 3rd September 2025 to approve the Scheme of Amalgamation of Citizen Solar Private Limited with the company. The resolution was passed with 100% of votes in favor — all 32,11,173 valid votes from 40 shareholders, with zero votes against or invalid. Promoters contributed 58.45% of the votes (18,76,700 shares) while public shareholders contributed 41.55% (13,34,473 shares). The Scrutinizer Mr. Aakash Modh (Advocate) confirmed the resolution was carried with the requisite majority. The NCLT Ahmedabad Bench had ordered the meeting on 21st July 2025 under Sections 230-232 of the Companies Act, 2013.
Shareholders have approved the merger of Citizen Solar Private Limited into Citizen Infoline Limited, moving the amalgamation scheme closer to final NCLT and regulatory approval. Once sanctioned, this will consolidate Citizen Solar's business into the listed entity, potentially expanding the company's operations in the solar segment.