Swan Defence and Heavy Industries Limited has submitted to the Exchange a copy of the Scrutinizers Report of the Court Convened General Meeting held on May 25, 2026. Further, the Company ....
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 the Scheme of Arrangement and Amalgamation between Triumph Offshore Private Limited (Transferor Company) and Swan Defence (Transferee Company). Out of 52.68 million shares, 49.51 million votes were cast (93.97% turnout). The resolution passed with overwhelming majority—49.50 million votes in favour (99.9997%) against only 150 votes against. Promoter, institutional, and public shareholders all voted overwhelmingly in favour. The Scrutinizer certified the resolution has been passed with requisite majority under the Companies Act and SEBI regulations.
The near-unanimous approval signals strong shareholder support for the amalgamation, which could unlock synergies and streamline operations. This is a positive development for Swan Defence as it progresses with its corporate restructuring plan, though final implementation remains subject to NCLT sanction.