Outcome of Remote E-voting and e-voting at the Meeting of the Equity Shareholders of True Colors Limited including Scrutinizer''s Report
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True Colors Limited held an NCLT-convened meeting of equity shareholders on September 28, 2026, to consider a Scheme of Amalgamation of Inkia Inks Private Limited (Transferor) with True Colors Limited (Transferee). The resolution was passed with overwhelming support, with 99.9967% of votes in favor (18,016,916 shares) and only 600 shares (0.0033%) voted against. Out of 2,138 shareholders on record date, 28 shareholders cast valid votes representing approximately 73.08% of outstanding equity share capital. The Scrutinizer (Mahendra P. Parmar, Advocate) confirmed that the resolution secured the requisite majority under Section 230 of the Companies Act, 2013, and SEBI's circular on schemes of arrangement.
This shareholder approval is a key milestone in the amalgamation process. True Colors Limited will absorb Inkia Inks Private Limited, potentially expanding its business scale, but the scheme still requires final NCLT and other regulatory approvals before becoming effective. Shareholders should watch for the next NCLT hearing date and any further disclosures on the swap ratio and effective date.