Uravi Defence and Technology Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on March 02, 2026
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Uravi Defence and Technology Limited held its first EGM of FY 2025-26 on March 2, 2026, via video conferencing from 4:15 PM to 4:55 PM IST. Three items were transacted: (1) appointment of M/s Viren Gandhi & Co as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s GBCA & Associates LLP (Ordinary Resolution), (2) approval for disinvestment in SKL India Private Limited (Special Resolution), and (3) approval of a material related party transaction for the sale of 50.01% shareholding in SKL India (a material subsidiary) to Mr. Krishna Kumar Bhatia and/or Mrs. Bhavna Bhatia, who are promoters and directors of SKL (Ordinary Resolution). Since MD & CEO Mr. Niraj Gada was interested in items 2 and 3, Independent Director Mr. Sreedhar Ayalur chaired those proceedings. Voting results are awaited and will be announced within the regulatory timeline.
The key shareholder-relevant outcome is the proposed exit from the material subsidiary SKL India, with a 50.01% stake being sold to SKL's own promoters — a material related party transaction that, if approved, will change the group's structure and remove SKL from being a subsidiary. The auditor change is a routine governance matter. Investors should watch the e-voting results and any further disclosures on the valuation of the SKL divestment.