Satchmo Holdings Limited has announced the completion of its postal ballot voting process, with the scrutinizer's report submitted on February 11, 2026. The company conducted the voting process entirely through remote e-voting facility, with all three proposed resolutions receiving approval from shareholders.

Postal Ballot Process Details

The company appointed Mr. Sudhindra K. S, Practicing Company Secretary (FCS No: 7909, CP No. 8190) from Bengaluru, as the scrutinizer for conducting the postal ballot process. The remote e-voting period commenced at 09:00 A.M. (IST) on Monday, January 12, 2026 and concluded at 5:00 P.M. (IST) on Tuesday, February 10, 2026. KFin Technologies Limited provided the remote e-voting facility to shareholders.

Shareholders holding shares as on the cut-off date of Friday, January 02, 2026 were entitled to participate in the voting process. The notice for the postal ballot was dated January 09, 2026, and was sent through electronic mode to members whose email addresses were registered with the company or depositories.

Voting Results Summary

The scrutinizer's report revealed comprehensive voting statistics across all three resolutions:

Resolution-wise Outcomes

Resolution 1: Managing Director Reappointment

The special resolution for reappointment and remuneration of Mr. Nitesh Shetty (DIN-100304555) as Managing Director designated as Chairman and Managing Director for a further period of one year till December 14, 2026 was passed with overwhelming support:

Resolution 2: Independent Director Re-appointment

The special resolution to re-appoint Ms. Gayathri Muttur Nagaraj (DIN: 06742638) as an Independent Director for the second time received the highest approval rate:

Resolution 3: Material Related Party Transactions

The ordinary resolution to approve existing and proposed new Material Related Party Transactions under regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 was also approved:

Regulatory Compliance

The postal ballot was conducted in accordance with Section 110 and other applicable provisions of the Companies Act, 2013, read with the Companies (Management and Administration) Rules, 2014. The process also complied with multiple MCA circulars issued between 2020 and 2025, including General Circular No. 3/2025 dated September 22, 2025.

The scrutinizer confirmed that all resolutions were passed with requisite majority, with votes cast by public shareholders in favour exceeding those cast against each resolution. The company has been directed to declare the results of the postal ballot voting based on the scrutinizer's findings.

Satchmo Holdings Limited announced its Q3FY26 quarterly results for the quarter ended December 31, 2025, showcasing a remarkable financial turnaround. The company reported exceptional performance with significant improvements across key financial metrics, driven primarily by successful debt settlements and strategic divestments.

Financial Performance Overview

The company's standalone financial results demonstrated extraordinary improvement in the third quarter of FY26:

For the nine-month period ended December 31, 2025, the company achieved a profit after tax of Rs 104,690 lakhs compared to Rs 2,545 lakhs in the corresponding period of the previous year.

Exceptional Items Drive Performance

The exceptional performance was primarily attributed to exceptional items totaling Rs 101,354 lakhs, which included:

• Reversal of impairment provisions no longer required: Rs 2,350 lakhs
• Sundry balances written back: Rs 171 lakhs
• Reversal of disputed interest: Rs 18,718 lakhs
• Reversal of disputed principal amount: Rs 29,468 lakhs
• Reversal of corporate guarantee issued to subsidiaries: Rs 53,282 lakhs

These reversals were made possible through successful one-time settlement agreements with creditors.

Debt Settlement and Legal Resolution

Satchmo Holdings achieved significant milestones in resolving its financial obligations during the quarter. The company received a one-time settlement proposal from JCF ARC for Rs 7,000 lakhs, which was paid within the stipulated timeframe, resulting in the receipt of No Due Certificates. Additionally, the company had earlier received an OTS from HDFC Limited for Rs 4,590 lakhs, with a balance outstanding of Rs 1,554 lakhs after considering payments.

The National Company Law Tribunal, Bengaluru Bench, dismissed the Corporate Insolvency Resolution Process application filed by JCF Asset Reconstruction Company against the company. This resolution marked the end of insolvency proceedings that had been initiated in July 2024.

Strategic Divestments Completed

The company completed significant strategic divestments during the quarter:

Both subsidiaries have ceased to be part of the Satchmo Holdings group following these transactions.

Business Focus and Operations

The company is transitioning its business focus toward specific segments including service business of facilities, catering activities, and investment and trading in equities. As part of this strategic shift, the company has stepped back from certain real estate projects under development and transferred them to other developers through Memorandum of Understanding or Business Transfer Agreements.

Regulatory Compliance Improvements

Satchmo Holdings made significant progress in regulatory compliance during the quarter. The company deposited Rs 50.46 lakhs to the Income Tax Department and Rs 89.25 lakhs toward Provident Fund dues. The GST registration of the company has been reinstated and regularized, addressing previous compliance issues.