as per the attached pdf.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
USG Tech Solutions held its 26th AGM on September 24, 2025 at 12:00 PM via video conferencing, chaired by Mr. Servesh Gupta. The meeting was held in compliance with MCA and SEBI circulars, and remote e-voting ran from September 21 to September 23, 2025, with results to be declared within two working days. Nine resolutions were transacted, including adoption of FY25 audited financials, re-appointment of Mr. Servesh Gupta as a director, appointment of new independent and executive directors, appointment of secretarial auditors, increase in authorised share capital, and raising of funds. The Secretarial Auditor's Report flagged 10 compliance qualifications, notably that three independent directors (Ms. Nirmal Garg, Mr. Venu Gopal Reddy, Ms. Shikha) failed to register with the IICA data bank and pass the self-assessment test, making them ineligible and thereby distorting the composition of the Board, Audit Committee, and Nomination & Remuneration Committee. Other lapses include a delayed appointment of the Company Secretary, defective MGT-14 filings, DIN allotted after the director's appointment date, missing contact number on the letterhead, and an unfiled MGT-14 for an investment in We Watch Network Pvt Ltd. The management attributed most issues to unintentional errors and committed to rectifying them, with results of the e-voting pending.
The multiple governance and compliance lapses—particularly the ineligible independent directors affecting board and committee composition—raise serious corporate governance red flags that could attract regulatory scrutiny from SEBI and MCA and may weigh on investor confidence. Shareholders should await the e-voting results, especially for the capital increase and fund-raising resolutions, as these could dilute equity or alter the company's financial structure.