SVC Industries Limited submitted a point-wise reply to the BSE Listing Compliance Department addressing discrepancies identified in disclosures filed under SEBI (SAST) Regulations, 2011. The company responded to queries raised on October 16, 2026, concerning filings made on September 28, 2026.

The exchange flagged four specific issues: missing reporting dates, absent reasons for encumbrance, non-compliant disclosure formats, and failure to report post-event holdings of encumbered shares for Akhill Marketing Pvt Ltd on a consolidated basis. SVC Industries stated that the reporting date and reasons for encumbrance were already included in Annexure 1 of the original disclosure. The company also affirmed that the format adhered to SEBI Circulars dated August 5, 2015, and August 7, 2019.

Regarding the consolidated reporting query, SVC Industries confirmed that the post-event holding of encumbered shares for Akhill Marketing Pvt Ltd has been disclosed by aggregating pledged shares and those under Non-Disposal Undertakings (NDU). The underlying transaction involved promoters pledging 3,99,58,361 equity shares and providing NDUs for 3,57,68,504 shares to Sicpa India Private Limited on September 24, 2026.

Encumbrance details and financial context

The disclosures reveal that the encumbrances were created to secure an Inter Corporate Deposit (ICD) facility for working capital purposes. The borrower, Overseas Infrastructure Alliance (India) Private Limited, is utilizing the funds for a six-month tenure. The total amount involved is ₹15 crore, secured against shares valued at ₹18.47 crore on the date of the event.

What the numbers show

The data indicates a significant concentration of promoter risk, with 7,57,26,868 equity shares encumbered, representing 46.43% of the total share capital. This figure exceeds the 20% threshold of total share capital and constitutes more than 50% of the total promoter shareholding, triggering mandatory detailed disclosures. Notably, the security cover ratio (Value of shares / Amount involved) is reported as 1:23, suggesting a substantial over-collateralization relative to the ₹15 crore debt instrument, which may reflect the lender's risk assessment or specific valuation methodologies applied during the pledge creation.

SVC Industries Limited shareholders approved a special resolution for the development, mortgage, or disposal of company land during the 35th Annual General Meeting held on September 30, 2026. The meeting also sanctioned changes to the Memorandum of Association to facilitate expansion into new business verticals.

The Board of Directors, led by Chairman Suresh Vithal Das Chaturvedi, transacted ordinary and special business items via electronic mode. Key resolutions included the re-appointment of Advait Chaturvedi as Director and the re-appointment of Sonal Waghela as Non-Executive Independent Director for a five-year term effective February 14, 2027. Ambuj Chaturvedi was appointed as Managing Director through an ordinary resolution.

Strategic Pivot to New Sectors

During the Chairman's address, Managing Director Ambuj Chaturvedi outlined the company's strategic direction. He highlighted initiatives in agri-trading within domestic markets and noted first ventures into international trade. Crucially, the company is seeking opportunities to enter three new sectors: Defence, Green Energy, and Mining. This diversification strategy necessitated the alteration of the main object clause of the Memorandum of Association, which was passed as a special resolution.

Resolutions Passed

The following business items were transacted and passed with requisite majority:

Governance and Voting Process

The meeting commenced at 11:30 am and concluded at 11:55 am. Remote e-voting facilities were available from September 27, 2026, to September 29, 2026. Abhishek Wagh & Associates served as the scrutinizer to ensure fair voting processes. No registered speakers raised questions concerning the Annual Report during the session. The results of the e-voting were declared within two working days post-conclusion.

Voting Results Breakdown

The consolidated scrutinizer's report confirmed that all resolutions received overwhelming support from shareholders. The promoter group, holding 77,814,865 shares, voted in favour of all items. Public non-institutional shareholders polled 12,691,996 votes across the resolutions.

For the special resolutions regarding land disposal and MoA alteration, 9,05,04,846 votes were cast in favour against 2,015 votes against, resulting in a support rate of 99.99777%.

Notably, the appointment of Ambuj Chaturvedi as Managing Director saw 85,95,800 invalid votes. The scrutinizer noted these were cast by a related party to the transaction and were thus excluded from the valid vote count. Despite this exclusion, the resolution passed with 8,19,09,046 votes in favour.