Notice of the Extra Ordinary General Meeting of the Company Scheduled to be held on March 02 ,2026 at 4.00 P.M
URAVIDEF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Uravi Defence and Technology Limited has called an EGM on March 2, 2026 at 4:00 PM via video conferencing, with the cut-off date for voting eligibility set as February 20, 2026. Three key items will be voted on: (1) Appointment of M/s Viren Gandhi & Co as new Statutory Auditors to fill the casual vacancy caused by the resignation of M/s GBCA & Associates LLP (who stepped down on November 11, 2025 due to disagreement over audit fees); (2) A Special Resolution to approve the disinvestment of the company's entire 50.01% stake (1,10,530 shares) in its material subsidiary SKL India Private Limited, for a minimum consideration of ₹11,25,19,540 (~₹11.25 crore); and (3) An Ordinary Resolution for the related party transaction aspect of this divestment, since the shares will be sold to SKL's promoters — Mr. Krishna Kumar Bhatia (MD) and Mrs. Bhavna Bhatia (Director). SKL has reportedly been inactive for about 18 months, and the anticipated business synergies from the June 2024 acquisition have not materialized.
Shareholders should note this is a significant exit from a material subsidiary that was originally acquired for strategic synergies but has underperformed. If approved, Uravi will receive at least ₹11.25 crore back and SKL will cease to be a subsidiary, simplifying the group structure. However, as a related party transaction, this deal warrants scrutiny over the valuation and terms. The auditor change is routine but signals a fee disagreement with the previous auditor.