Swan Defence and Heavy Industries Limited has informed the Exchange about Court Convened General Meeting held on May 25, 2026.
SWANDEF · price
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Swan Defence and Heavy Industries Limited held a Court Convened General Meeting on May 25, 2026, as directed by the Hon'ble NCLT, Ahmedabad Bench, to seek shareholder approval for a Scheme of Arrangement and Amalgamation. Under this scheme, Triumph Offshore Private Limited (Transferor Company) will be amalgamated into Swan Defence and Heavy Industries Limited (Transferee Company). The resolution was passed with overwhelming majority - 99.9997% votes in favour (49,506,198 votes) against only 150 votes against out of 49,506,348 total votes polled. Promoter group voted 100% in favour while public institutional shareholders also voted 100% in favour. The scheme was approved by shareholders representing at least three-fourths in value as required under the Companies Act, 2013.
The amalgamation of Triumph Offshore into Swan Defence is now approved by shareholders and awaits further NCLT and regulatory approvals. This corporate restructuring may create operational synergies and streamline the company's structure, which could be positive for the company's future performance.