Covance Softsol Limited passed all resolutions at its 3rd Annual General Meeting held on September 30, 2026, with requisite majority. A total of 2,963 shareholders were on record as of the cut-off date.

Meeting overview

The AGM was conducted through Video Conferencing and Other Audio Visual Means on September 30, 2026 at 11:30 am. Remote e-voting was open from September 27, 2026 at 9:00 am to September 29, 2026 at 5:00 pm. Shareholders who had not cast votes during the remote e-voting window were provided the facility during the AGM itself. The cut-off date for determining eligible voters was September 23, 2026.

Attendance at the meeting was as follows:

Resolutions passed

Two ordinary resolutions were put to vote. The first resolution sought adoption of the audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and auditors. The second resolution sought re-appointment of Srinivasa Rao Madala (DIN: 01180342), who retires by rotation as Director and being eligible, offered himself for re-appointment.

Both resolutions received identical voting outcomes, as detailed below:

Promoter and public voting breakdown

For both resolutions, the Promoter and Promoter Group category held 1,58,79,710 shares and polled 1,00,000 votes via poll, representing 0.6297% of their outstanding shares, all cast in favour. The Public Non-Institutions category held 62,65,823 shares and polled 50,38,449 votes in total, of which 50,19,156 were cast via e-voting and 19,293 via poll. No institutional public shareholders participated.

Scrutinizer's findings

B S S & Associates, Company Secretaries, Hyderabad, were appointed as scrutinizers for the e-voting process. The firm reviewed remote e-voting and e-voting conducted during the AGM through the platform provided by KFin Technologies Limited. Based on the scrutinizer's consolidated report dated October 1, 2026, all resolutions were declared passed with requisite majority. The declaration was made by Chandana Konduru, Company Secretary and Compliance Officer, duly authorised by the Chairman of the meeting.

Covance Softsol Limited disclosed that Sambasiva Rao Madala, a member of the promoter group, acquired 46,24,704 equity shares via an off-market gift transfer from Durga V L K Madala on August 28, 2026, representing 20.88% of the paid-up share capital.

The transaction was an inter-se transfer between immediate relatives under Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Sambasiva Rao Madala is the father-in-law of Durga V L K Madala. The acquisition was executed at nil consideration, as shares were transferred by way of gift. The company filed the requisite report under Regulation 10(7) of the Takeover Regulations with SEBI on September 9, 2026, within 21 working days of the acquisition date.

Shareholding changes for key promoter group members

The transaction resulted in a significant redistribution of shareholding within the promoter group, while the aggregate promoter and promoter group holding remained unchanged at 71.71% of total share capital. The table below details the pre- and post-transaction shareholding of each promoter group member.

Regulatory compliance and transaction details

The key parameters of the transaction are summarised below.

The total equity share capital of Covance Softsol remained unchanged at Rs.22,14,55,330, comprising 2,21,45,533 equity shares of Rs.10 each, both before and after the transaction. The applicable filing fee of Rs. 1,50,000/- plus GST at 18% was remitted via NEFT on September 9, 2026.

Disclosures under insider trading regulations

Separate disclosures were filed by both Sambasiva Rao Madala and Durga V L K Madala under Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. Durga V L K Madala's holding fell from 1,43,36,112 shares (64.74%) to 97,11,408 shares (43.86%) following the gift. Both disclosures were submitted to BSE Limited on August 31, 2026. The transaction was executed exclusively on an off-market basis and no derivatives trading was reported in connection with this transfer.