Bang Overseas Limited successfully concluded its Extraordinary General Meeting (EGM) held on March 12, 2026, with shareholders approving all three proposed resolutions with overwhelming majority. The meeting, conducted through video conferencing from 12:46 PM to 01:01 PM, saw participation from 38 shareholders and addressed critical corporate governance matters including material related party transactions and investment policy changes.

Meeting Overview and Participation

The EGM was held pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with Sonam Jain serving as the scrutinizer. The company had 7,138 shareholders on the record date of March 5, 2026, with voting conducted through both remote e-voting and during the meeting.

Resolution Results and Voting Outcomes

All three resolutions presented to shareholders received strong approval, demonstrating confidence in the company's strategic direction. The voting results showed consistent support across different shareholder categories.

Resolution 1: Thomas Scott (India) Limited Transaction

The first ordinary resolution for approving material related party transaction with Thomas Scott (India) Limited passed with 99.9991% votes in favor. Out of 6,838,592 total votes polled, 6,838,533 voted in favor while only 59 votes were cast against the resolution.

Resolution 2: Vedanta Creations Limited Transaction

The second ordinary resolution for material related party transaction between Vedanta Creations Limited (WOS) and Thomas Scott (India) Limited achieved identical voting results as the first resolution, with 99.9991% approval rate and the same vote distribution across categories.

Resolution 3: NRI Investment Limits

The special resolution to increase investment limits for non-resident Indians and overseas citizens of India received even stronger support with 99.99997% votes in favor. This resolution saw 6,838,590 votes in favor against only 2 votes against, with no invalid votes recorded.

Scrutinizer's Report and Compliance

Scrutinizer Sonam Jain, Company Secretary with membership number F9871, submitted a comprehensive report confirming the validity of the voting process. The remote e-voting period was conducted from March 9-11, 2026, through NSDL's platform, ensuring transparent and secure voting mechanisms.

The scrutinizer's report highlighted key compliance aspects:

• Voting rights were determined based on the cut-off date of March 5, 2026
• Remote e-voting was available for three days through NSDL platform
• All votes were unblocked and downloaded in the presence of independent witnesses Mohit Siddhpura and Aditi Singh
• The process adhered to Section 108 of the Companies Act, 2013 and relevant SEBI regulations

Corporate Governance and Transparency

The successful completion of the EGM with unanimous approval across all resolutions reflects strong corporate governance practices and shareholder confidence. Company Secretary Omkar Jadhav (Membership No. A76360) ensured proper compliance and disclosure requirements were met.

The meeting addressed important strategic decisions including related party transactions and policy changes for foreign investment, positioning the company for continued growth while maintaining regulatory compliance. The overwhelming shareholder support across all categories demonstrates alignment between management decisions and shareholder interests.

Thomas Scott (India) Limited's promoter Vedant Bang has acquired additional equity shares in the company, with formal disclosure made under SEBI Prohibition of Insider Trading Regulations. The acquisition demonstrates continued promoter confidence in the company's prospects and has been reported through proper regulatory channels.

Share Acquisition Details

Vedant Bang, who serves as Managing Director (E-comm) and promoter of Thomas Scott (India) Limited, acquired 25,000 equity shares through open market transactions on March 11, 2026. The acquisition represents 0.17% of the company's total share capital and was executed on BSE with a transaction value of ₹62,50,000.

Shareholding Pattern Changes

The acquisition has resulted in changes to Bang's overall shareholding in Thomas Scott (India) Limited. His total holding has increased from 5,12,936 shares to 5,37,936 shares, reflecting his continued investment in the company.

Regulatory Compliance and Disclosure

The transaction was disclosed through multiple regulatory filings to ensure full compliance with SEBI regulations. Bang submitted Form B under Regulation 7(2) read with Regulation 6(2) of SEBI Prohibition of Insider Trading Regulations on March 11, 2026. The company's Managing Director Brijgopal Bang subsequently filed the disclosure with stock exchanges on March 12, 2026.

Company Capital Structure

Thomas Scott (India) Limited maintains a stable capital structure with the equity share capital remaining unchanged following this promoter acquisition. The company's shares are listed on both major Indian stock exchanges under scrip code 533941 on BSE and symbol THOMASCOTT on NSE.

The acquisition reflects standard promoter activity and demonstrates ongoing commitment to the company's growth trajectory. All regulatory requirements have been fulfilled with the timely submission of prescribed disclosure formats to the respective stock exchanges, ensuring transparency in insider trading activities.