Swan Defence and Heavy Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 24, 2025. Further, the company has submitted the Exchange a copy of Srutinizers report along with copy of minutes.
SWANDEF · price
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Awaiting price reaction for this filing.
Swan Defence and Heavy Industries (formerly Reliance Naval and Engineering) held its 28th AGM on September 24, 2025 via video conferencing, which concluded in just 13 minutes (11:30 AM to 11:43 AM). All 5 resolutions were passed with overwhelming support — over 99.79% in favour on each. Key items included adoption of FY25 audited financial statements, re-appointment of Mr. Paresh Merchant as director (retiring by rotation), appointment of DM & Associates as secretarial auditor for 5 years (FY26–FY30), approval of material related party transaction limits, and adoption of a new set of Articles of Association as a Special Resolution. Out of 98,493 shareholders on record date, only 46 attended via VC, and roughly 1.7% of outstanding public shares were polled. One promoter-group corporate member holding 5 crore shares (94.91% of equity) authorized a representative to attend.
This is a routine procedural filing with no material surprises. All resolutions sailed through, indicating comfortable shareholder support. Worth noting: promoters (holding ~94.91%) recused themselves from voting on the material related party transaction resolution, so it was passed solely by public shareholders (still 99.79% in favour), which is a positive governance signal. Low public voting turnout is typical for promoter-heavy companies and unlikely to move the stock.