Proceedings of the Extra Ordinary General Meeting of the Company convened by the requisitionists pursuant to section 100 of the Companies Act 2013.
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Skyline Ventures India Ltd held an Extra Ordinary General Meeting on December 31, 2025, which was requisitioned by shareholders under Section 100 of the Companies Act, 2013, rather than being called by the Board. The meeting was chaired by a requisitionist-member, Mr. Madhu Mohan Avalur, instead of the regular Chairman. Shareholders passed 8 special resolutions covering the appointment of three new directors (Kantheti Phanindra Varma, Madhu Mohan Avalur, and Venkata Satya Subrahmanyam Mukkavalli) and the removal of three existing directors (Asha Mitta, Anil, and Hannah Priyadarshini). Additional resolutions approved the appointment of a forensic auditor to review past Board transactions, barred the Board from entering agreements without shareholder approval, and suspended an existing agreement with Verrkotech Solutions Private Limited. All resolutions were passed with the requisite majority through e-voting.
This is a shareholder-driven coup: the existing Board has been largely replaced, governance control has shifted to the requisitionist group, and a forensic audit of prior Board transactions has been ordered. The suspension of the Verrkotech Solutions deal and likely scrutiny of related-party transactions mean significant near-term uncertainty, governance risk, and potential volatility for the stock.