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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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USG Tech Solutions Ltd held its 26th Annual General Meeting on September 24, 2025, conducted via video conferencing. Of the 11 resolutions voted on, 8 were passed with overwhelming support (99.99% in favour), including adoption of FY25 audited financials, re-appointment of director Mr. Servesh Gupta, rescinding a prior EGM resolution, appointment of secretarial auditors, increase in authorised share capital, raising of funds, and sale of two subsidiaries (Niskarsh Properties Pvt Ltd and Zeal Apartment LLP). However, three director appointments were shockingly rejected by shareholders — only 642 votes were cast in favour versus 12,190,273 against (99.99% against), covering Ms. Anubha Chauhan and Mr. Ramanuj Darak as independent directors, and Mr. Avani Kumar Shukla as executive director.
The rejection of all three director appointments by a single large shareholder block is a major red flag and signals serious corporate governance friction. While fund-raising and subsidiary sale resolutions passed, the company's board composition remains incomplete and unresolved. Shareholders should expect potential volatility and watch for further disclosures on who opposed these appointments and how the company plans to reconstitute its board.