California Software Company Limited has approved in principle the acquisition of up to a 51% equity stake in Tech Aggregators Private Limited (Cashter). The Board of Directors granted this approval during a meeting held on June 18, 2026, via video conferencing. The strategic move targets the Chennai-based entity and is subject to the satisfactory completion of due diligence, valuation, and the receipt of necessary regulatory approvals.

The board sanctioned the execution of a Memorandum of Understanding (MoU) with Tech Aggregators Private Limited to establish a framework for evaluating the proposed transaction. Additionally, the directors authorized the commencement of legal, financial, tax, technical, operational, and compliance due diligence through independent professional advisors. This step ensures a comprehensive assessment of the target company before finalizing the transaction.

Further approvals include the appointment of Registered Valuers, Chartered Accountants, Company Secretaries, Legal Advisors, and Due Diligence Consultants as required. The board authorized Dr. Vasudevan Mahalingam, Managing Director & CEO, and Mr. K. Venkatesh, Company Secretary & Compliance Officer, to jointly execute the MoU, coordinate due diligence, and negotiate transaction terms.

The proposed transaction remains at a preliminary stage and is contingent upon final commercial negotiations, board approval of definitive documents, and shareholder approval if required. Compliance with the Companies Act, 2013, SEBI Regulations, and other stock exchange requirements is mandatory. The execution of the MoU does not create a binding obligation to complete the acquisition, and no final consideration has been determined yet.

The Board Meeting commenced at 5.00 PM IST and concluded at 6.30 PM IST. The intimation to the exchanges was signed by K. Venkatesan, Company Secretary & Compliance Officer, on June 18, 2026.

California Software Company Limited has approved the redemption of Optionally Convertible Redeemable Preference Shares (OCRPS) aggregating to ₹4.18 crore held by Chemoil Private Limited. The decision was taken during a board meeting held on 28 May 2026. The company also extended the payment period for the First and Final Call Money related to its Rights Issue by one month, warning that non-payment could lead to share forfeiture.

Redemption of OCRPS

The board sanctioned the redemption of 4,18,700 OCRPS, each with a face value of ₹10 and issued at ₹100 per share. The total redemption amount stands at ₹4,18,70,000. Upon payment of this amount and completion of necessary formalities, these shares will be redeemed, cancelled, and extinguished. The move follows a request from Chemoil Private Limited and adheres to the original terms of issue.

Extension of Call Money Payment

Shareholders who have not yet paid the First and Final Call Money for partly paid equity shares issued via the Rights Issue have been granted an additional one month to settle the dues. The board clarified that if shareholders fail to make the payment within this extended timeframe, the allotted shares will be liable to forfeiture. This action will be taken in accordance with the terms of issue, the Letter of Offer, the Articles of Association of the Company, and applicable regulations under the Companies Act, 2013 and SEBI guidelines.

Authorizations

Mr. Vijayakumar, Executive Director, along with other officers of the company, has been authorized to complete all necessary acts, deeds, filings, and other matters required to give effect to these decisions. The meeting commenced at 4.00 PM and concluded at 4.30 PM on the same day.