Accel held two crucial meetings on August 9, 2025, in Chennai to seek approval for a significant corporate restructuring. The primary agenda was the approval of a scheme of amalgamation between Accel and Accel Media Ventures.

Unsecured Creditors' Meeting

A meeting of unsecured creditors was conducted pursuant to directions from the National Company Law Tribunal (NCLT), Chennai Bench. Justice (Rtd) Ilangovan G of High Court of Madras served as the appointed Chairperson, while Adv. Raymond A was appointed as scrutinizer for ballot voting.

The meeting details were as follows:

• Commenced: 3:30 PM
• Adjourned: 30 minutes due to lack of quorum
• Resumed: 4:00 PM
• Concluded: 4:30 PM

Key attendees included Managing Director N.R. Panicker, Executive Director S.V. Rao, CFO Rajesh Kumar Nandhi, and Company Secretary Vishnu S.

The unsecured creditors approved the amalgamation scheme with the requisite majority as required by the tribunal's directions.

Extraordinary General Meeting (EGM)

An EGM was held earlier the same day at the 3rd Floor of SFI Complex in Nungambakkam, Chennai, following an order from the NCLT, Chennai Bench. Justice (Rtd) Ilangovan G presided over this meeting as well.

The EGM schedule was as follows:

• Scheduled start: 11:30 AM
• Adjourned: 30 minutes due to lack of quorum
• Resumed: 12:10 PM
• Concluded: 1:10 PM

Key Attendees

Several key figures were present at both meetings:

Additionally, representatives from the company's tax auditors, statutory auditors (M/s. K.S. Aiyar & Associates), and a practicing company secretary attended the EGM.

Voting Process

For the EGM, Accel provided multiple voting options for its shareholders:

1. Remote e-voting from August 6-8, 2025
2. E-voting during the meeting via the National Securities Depository Limited (NSDL) platform

Adv. Raymond A was appointed as the scrutinizer to oversee the voting process for both meetings, as per the NCLT's directive.

Meeting Proceedings

At the EGM, Mr. N.R. Panicker, the Managing Director, addressed the shareholders, providing insights into the business performance of both Accel and Accel Media Ventures. He elaborated on the strategic rationale behind the proposed merger, emphasizing its potential benefits for the company and its stakeholders.

Next Steps

The company has announced that the consolidated voting results will be made available on its website within 48 hours of the meetings' conclusion. These results will be crucial in determining the fate of the proposed amalgamation.

Regulatory Compliance

These meetings and their proceedings comply with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has assured that it will forward the detailed voting results in the format prescribed under Regulation 44(3) of the same SEBI regulations.

As Accel moves forward with this significant corporate action, stakeholders and market observers will be keenly watching for the final voting outcome and its implications for the company's future structure and operations.

Accel Limited has released an addendum to the notice for its upcoming Extraordinary General Meeting (EGM), providing crucial additional information for shareholders regarding the proposed amalgamation scheme with Accel Media Ventures Limited.

Key Details of the Addendum

The addendum, issued on July 28, 2025, supplements the original EGM notice dated July 7, 2025. The EGM is scheduled for August 9, 2025, at 11:30 AM at the company's registered office in Chennai. The meeting aims to seek shareholder approval for the amalgamation scheme between Accel Limited and Accel Media Ventures Limited under sections 230-232 of the Companies Act, 2013.

Financial Information and Legal Proceedings

The addendum discloses several important financial and legal details:

1. Disputed Claims: As of December 31, 2024, there are claims against the company under dispute totaling INR 671.32 lakhs.

2. Regulatory Action: A SEBI penalty of INR 1.00 crore has been imposed on promoter N R Panicker. The Securities Appellate Tribunal (SAT) has conditionally stayed the penalty pending appeal disposal.

3. Transferor Company Financials: Accel Media Ventures Limited, the transferor company, reported a negative net worth of INR 8.01 crores as of March 31, 2025.

Amalgamation Scheme Details

The addendum provides a consolidated post-merger balance sheet and financial information of the transferor company for the past five years. It also confirms that the transferor company has no shares in abeyance, pending share transfers, or shares in suspense accounts.

Importance for Shareholders

This addendum is crucial for shareholders to make informed decisions regarding the proposed amalgamation. It offers transparency on the financial position of both companies and ongoing legal matters that could impact the merged entity.

Next Steps

Shareholders are advised to review the addendum in conjunction with the original EGM notice. The company has made the addendum available on its website ( www.accel-india.com ) and on the BSE Limited website ( www.bseindia.com ).

The EGM, which will decide the fate of this amalgamation scheme, remains a pivotal event for Accel Limited's future corporate structure and operations.