Swan Defence shareholders approve amalgamation with Triumph Offshore

Swan Defence and Heavy Industries Limited shareholders have approved the Scheme of Arrangement and Amalgamation with Triumph Offshore Private Limited. The resolution was passed with a requisite majority at a court-convened meeting held on May 25, 2026, pursuant to orders from the National Company Law Tribunal (NCLT), Ahmedabad Bench. The approval allows the company to proceed with the amalgamation under Sections 230 to 232 read with Section 66 and Section 52 of the Companies Act, 2013.

The meeting was held through video conferencing and other audio-visual means, with Mr. Abhay Ranjan, Advocate, chairing the proceedings. Mr. Mubassir Jalees Khan, Advocate, served as the Scrutinizer for the electronic voting process. The remote e-voting period commenced on May 22, 2026, and concluded on May 24, 2026.

Voting Results

The resolution received overwhelming support from shareholders. A total of 49,506,198 votes were cast in favour, representing 99.9997% of the total votes polled, while 150 votes were cast against.

Category	Votes In Favour	Votes Against	% In Favour
Promoter and Promoter Group	47,361,253	0	100
Public - Institutions	1,364,471	0	100
Public - Non-Institutions	780,474	150	99.98
Total	49,506,198	150	99.9997

The Scrutinizer's Report confirmed that the resolution was passed with the requisite majority. Excluding promoter votes, public shareholders cast 2,144,945 votes in favour and 150 against. The results and the Scrutinizer's Report are available on the company's website and the website of KFin Technologies Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.00%	+7.29%	+10.87%	+80.37%	+1,107.69%	+5,350.26%

Swan Defence and Heavy Industries Limited has received shareholder approval to regularise the appointment of Mr. Jayaramakrishnan Kannan as a Non-Executive Independent Director. The resolution was passed through a postal ballot process that concluded on May 19, 2026. This approval formalises his position, which was initially effective from March 31, 2026, for a term of five consecutive years ending March 30, 2031.

Voting Results Summary

The remote e-voting process sought shareholder approval for the regularisation. A total of 48,266,170 votes were polled, representing approximately 91.62% of the total outstanding shares. The resolution received strong support across all shareholder categories, with the requisite majority secured.

Breakdown of Votes

The detailed voting results indicate that the promoters and promoter group cast all their votes in favour of the resolution. Public institutions and non-institutional shareholders also participated, with the majority supporting the appointment.

Category	Shares Held	Votes Polled	Votes In Favour	Votes Against	% In Favour
Promoter and Promoter Group	47,361,253	47,361,253	47,361,253	0	100.00
Public- Institutions	1,451,776	875,763	875,763	0	100.00
Public- Non Institutions	3,869,121	29,154	27,582	1,572	94.61
Total	52,682,150	48,266,170	48,264,598	1,572	99.99

Director Profile

Mr. Jayaramakrishnan Kannan (DIN: 06551104) retired from TCS as Vice President, Head – Global Alliances. He currently serves on the boards of AiQOD, Mitraa, Amitech, Manisha Soft Solutions, and Pillar Rocks. He is also an Advisor to Check Point, Krya, Method Hub, and Mitraa Deep Tech. A post-graduate in Management from the Bajaj Institute of Management, Mumbai, he brings approximately 40 years of experience in the IT industry.