Notice of Extra-Ordinary General Meeting
Price
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Svarnim Trade Udyog Ltd has called an Extra-Ordinary General Meeting (EGM) on 23rd April 2025 (3:00 PM, via video conferencing) to seek shareholder approval for a 99% reduction in its paid-up equity share capital. The move will shrink the equity base from Rs. 2.43 crore (24,31,500 shares of Rs. 10 each) to Rs. 24.32 lakh (2,43,150 shares of Rs. 10 each), meaning every shareholder will receive 1 new share for every 10 shares currently held. The Rs. 2.19 crore wiped out through the reduction will be used entirely to write off the company's accumulated carried-forward losses. The proposal needs confirmation from the NCLT Kolkata bench and will be put to vote as a Special Resolution with no cash paid to shareholders. Remote e-voting runs from 20th to 22nd April 2025, with 16th April 2025 as the cut-off date for eligibility.
Shareholders will end up with 90% fewer shares, but their proportional economic interest in the company stays unchanged, and the share price is expected to adjust downward accordingly once the reduction takes effect. The move is essentially a balance-sheet cleanup driven by significant accumulated losses, indicating past financial stress, though it does not change the underlying value of the business.