Please find enclosed herewith Summary of proceeding of the EGM of the company held on Wednesday, April 02 2025 at 01:30 PM
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Standard Capital Markets Limited held its 1st EGM of FY 2025-26 on April 02, 2025 via video conferencing, attended by 152 members. The meeting was chaired by Company Secretary Vineeta Gautam, with Chairman Ram Gopal Jindal also present. Key business items included increasing the authorised share capital, issuing 72,45,74,640 equity shares to non-promoter category on a preferential basis upon conversion of loan (special resolution), and seeking approval for 13 material related party transactions involving entities and individuals linked to the promoters, including Ram Gopal Jindal, Gaurav Jindal, and several group companies like Quicktouch Technologies, Standard Infracap Services, Standard Capital Advisors, and Standard Insurance Broking. E-voting was conducted from March 30 to April 1, 2025, with a scrutinizer appointed; the meeting concluded at 01:50 PM and voting results will be announced separately.
Shareholders should watch for the e-voting results, as the resolutions signal a very large potential equity dilution (over 72 crore shares from a single loan conversion) and the formalisation of a wide network of related party transactions, which could raise corporate governance concerns and weigh on minority shareholder interest.