EFC (I) Limited, a company listed on both BSE and NSE, has successfully conducted a meeting of its equity shareholders to vote on a proposed scheme of amalgamation with Whitehills Interior Limited. The meeting, held on September 15, 2025, was conducted via video conference in compliance with an order from the National Company Law Tribunal (NCLT) dated August 11, 2025.

Meeting Details

The company reported a total of 23,312 shareholders as of the record date, September 8, 2025. During the virtual meeting:

• 3 members from the promoter and promoter group attended
• 74 public shareholders participated

Voting Outcome

According to the company's announcement, the resolution for the scheme of amalgamation was approved by shareholders with the requisite majority. This decision was based on the scrutinizer's report submitted by Mr. Chirag Sachapara of Sachapara & Associates, who was appointed by the NCLT to oversee the voting process.

Regulatory Compliance

EFC (I) Limited ensured compliance with various regulatory requirements throughout the process:

• The meeting was conducted in accordance with the Companies Act, 2013
• It adhered to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Relevant circulars issued by the Ministry of Corporate Affairs were followed

Voting Process

Shareholders were provided with two voting options:

1. Remote e-voting prior to the meeting
2. E-voting during the meeting

The company emphasized that the voting results encompassed both these methods, ensuring a comprehensive representation of shareholder opinions.

Next Steps

With shareholder approval secured, EFC (I) Limited is expected to proceed with the next stages of the merger process. The amalgamation with Whitehills Interior Limited, once completed, could potentially lead to synergies and strategic benefits for the combined entity.

Investors and stakeholders are advised to keep an eye on further announcements from the company regarding the progress of this significant corporate action.

EFC (I) Limited , a diversified company with interests in real estate, infrastructure, and other sectors, has announced significant leadership and governance decisions following a board meeting held on September 8, 2025.

Whole-time Director Re-appointment

The Board of Directors has approved the re-appointment of Mr. Nikhil Dilipbhai Bhuta as Whole-time Director for an additional five-year term. This decision, subject to shareholder approval, extends Mr. Bhuta's tenure from October 1, 2025, to September 30, 2030.

Mr. Bhuta, a Chartered Accountant with over 26 years of experience, brings a wealth of knowledge to his role. His expertise spans various industries, including Real Estate, Infrastructure, Hospitality, Agritech, Mining, and Oil & Gas. Throughout his career, Mr. Bhuta has held pivotal positions such as CFO, Country Head, and CEO, successfully executing major projects both in India and internationally.

Notably, Mr. Bhuta has demonstrated his financial acumen by raising capital on prominent stock exchanges, including BSE, TSX, and AIM. His re-appointment is viewed as a strategic move to maintain continuity in the company's leadership and leverage his extensive experience for future growth.

New Secretarial Auditor Appointment

In another key decision, the Board has appointed M/s. Sachapara & Associates as the company's Secretarial Auditor for five consecutive financial years, spanning from FY 2025-26 to FY 2029-30. This appointment is also subject to shareholder approval.

M/s. Sachapara & Associates, a practicing Company Secretaries firm, brings significant expertise to this role. The firm holds a Peer Review Certification (No. 3447/2023) and has extensive experience in corporate law compliance and corporate restructuring.

Board Meeting Details

The board meeting, which commenced at 11:00 a.m. (IST) and concluded at 11:20 a.m. (IST) on September 8, 2025, addressed these critical appointments. The decisions reflect EFC (I) Limited's commitment to maintaining strong corporate governance and ensuring experienced leadership at the helm.

These strategic moves are expected to contribute to the company's continued growth and operational excellence in the coming years. Shareholders will have the opportunity to vote on these appointments at the upcoming General Meeting, the date of which is yet to be announced.

EFC (I) Limited continues to position itself for future success with these key appointments, leveraging experienced leadership and robust governance practices.