Voting Results and Scrutinizer Report of the 31st AGM of the Company
Awaiting price reaction for this filing.
Ushdev International held its 31st Annual General Meeting on September 26, 2025, in Mumbai. Two resolutions were passed with near-unanimous support: (1) adoption of audited Standalone and Consolidated financial statements for FY ended March 31, 2025, and (2) appointment of M/s. Abhay Kumar Pal & Co. as Secretarial Auditor for five consecutive years. Voting was conducted through remote e-voting (NSDL platform) and polling papers at the meeting. About 8.70 crore votes were polled (61.33% of outstanding shares of 33.85 crore), with effectively 100% in favor — only 33 shares were voted against. Just 34 shareholders attended in person (1 promoter, 33 public). The Scrutinizer confirmed both resolutions as duly passed.
These are routine procedural approvals with overwhelming shareholder support and are unlikely to move the stock. However, the Scrutinizer's report flags an important backdrop: the company has been under the IBC Corporate Insolvency Resolution Process since May 2018; NCLAT ordered liquidation proceedings in May 2025, the Resolution Applicant's Supreme Court appeal was dismissed on July 23, 2025, and the matter is now pending final outcome at NCLT. Shareholders should track the liquidation ruling as it will determine any recovery.