NewsCorporate ActionsKedia Construction Shareholders Unanimously Approve Amalgamation with Kirti InvestmentsKedia Construction Shareholders Unanimously Approve Amalgamation with Kirti Investments
By ScanX News Team
Kedia Construction Company Limited (KCCL) announced unanimous approval from equity shareholders for the proposed amalgamation with Kirti Investments Limited (KIL). The meeting, held on July 28, 2025, via video conferencing, saw 18,64,800 votes cast in favor, representing 100% approval. The promoter and promoter group, holding 62.16% of shares, fully supported the resolution. No votes were cast against the amalgamation. The meeting, chaired by Ms. Jayaprakash Preethi, was conducted in compliance with regulatory requirements.
*this image is generated using AI for illustrative purposes only.
Kedia Construction Company Limited (KCCL) announced that its equity shareholders have unanimously approved the proposed Scheme of Amalgamation with Kirti Investments Limited (KIL) at a meeting held on July 28, 2025. The meeting, convened as per the directions of the National Company Law Tribunal (NCLT), Mumbai Bench, was conducted through video conferencing.
Key Highlights of the Meeting
- Unanimous Approval: All 18,64,800 votes cast were in favor of the resolution, representing 100% approval for the amalgamation scheme.
- Attendance: Out of 105 total shareholders, 9 members participated in the virtual meeting.
- Voting Process: The company provided remote e-voting facilities prior to the meeting, as well as e-voting during the meeting through National Securities Depository Limited (NSDL).
Details of the Amalgamation
The approved scheme involves the amalgamation of Kirti Investments Limited (the transferor company) with Kedia Construction Company Limited (the transferee company). This strategic move is expected to streamline operations and potentially create synergies between the two entities.
Meeting Proceedings
Ms. Jayaprakash Preethi, appointed by the NCLT as the meeting's chairperson, presided over the proceedings. The meeting commenced at 3:00 PM IST and concluded at 3:16 PM. Ms. Kala Agarwal, a Practicing Company Secretary, served as the scrutinizer for the voting process.
Voting Results
| Category | Shares Held | Votes Polled | % Votes Polled | Votes in Favor | % in Favor |
|---|---|---|---|---|---|
| Promoter and Promoter Group | 18,64,800 | 18,64,800 | 100.00 | 18,64,800 | 100.00 |
| Public Institutions | 0 | 0 | 0.00 | 0 | 0.00 |
| Public Non-Institutions | 11,35,200 | 0 | 0.00 | 0 | 0.00 |
| Total | 30,00,000 | 18,64,800 | 62.16 | 18,64,800 | 100.00 |
The voting results demonstrate strong support from the promoter and promoter group, who collectively hold 62.16% of the company's shares. Notably, there were no votes cast against the resolution.
Compliance and Disclosure
KCCL has stated that the meeting was conducted in compliance with the Companies Act, 2013, SEBI regulations, and relevant circulars issued by the Ministry of Corporate Affairs and SEBI. The company has also committed to making the voting results available on its website and that of NSDL.
With this approval, Kedia Construction Company Limited moves a step closer to finalizing its amalgamation with Kirti Investments Limited. The next stages will likely involve seeking further regulatory approvals and implementing the amalgamation scheme.
Historical Stock Returns for Kedia Construction
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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