News Corporate Actions Silicon Valley Infotech Limited Shareholders Approve Share Capital Reduction with Overwhelming MajoritySilicon Valley Infotech Limited Shareholders Approve Share Capital Reduction with Overwhelming Majority
Silicon Valley Infotech Limited shareholders approved a special resolution for reduction of share capital at the 1st Extra-Ordinary General Meeting held on March 9, 2026, with 99.9999% votes in favour. The voting saw participation from 66 members total, with 43526593 votes supporting the resolution and only 27 votes against. The company has informed stock exchanges about the results as per SEBI regulations, with the scrutinizer confirming the voting process was conducted fairly and transparently.
*this image is generated using AI for illustrative purposes only.
Silicon Valley Infotech Limited has announced the successful completion of its 1st Extra-Ordinary General Meeting (EGM) for the Financial Year 2025-26, held on March 9, 2026. The meeting resulted in the overwhelming approval of a special resolution concerning the reduction of share capital, marking a significant corporate restructuring decision for the Kolkata-based information technology company.
Voting Results and Shareholder Participation
The special resolution for approval of reduction of share capital received exceptional shareholder support, with detailed voting results demonstrating strong confidence in the company's strategic direction.
| Voting Category | Mode | Shares Held | Votes Polled | % Polled | Votes in Favour | Votes Against | % in Favour |
|---|---|---|---|---|---|---|---|
| Promoter Group | E-Voting | 3558000 | 146000 | 4.10% | 146000 | 0 | 100.00% |
| Public Non-Institutions | E-Voting | 126122000 | 40297653 | 31.95% | 40297626 | 27 | 99.9999% |
| Public Non-Institutions | Poll | 126122000 | 3082967 | 2.44% | 3082967 | 0 | 100.00% |
| Total | Combined | 129680000 | 43526620 | 33.56% | 43526593 | 27 | 99.9999% |
The resolution was passed with requisite majority, with 43526593 votes cast in favour representing 99.9999% of total valid votes, while only 27 votes were cast against the resolution.
Scrutinizer's Report and Compliance
CS Atul Kumar Labh of A. K. Labh & Co., Company Secretaries, served as the appointed scrutinizer for the EGM. The scrutinizer's report confirmed that the voting process was conducted in a fair and transparent manner, adhering to the provisions of the Companies Act, 2013 and related rules.
Key voting process details:
- Remote e-voting period: March 6, 2026 (9:00 AM) to March 8, 2026 (5:00 PM)
- Cut-off date for eligible shareholders: March 2, 2026
- Physical ballot facility provided at the EGM venue
- Total members voting in favour: 63
- Total members voting against: 3
Member Participation Analysis
The voting participation showed strong engagement across different voting modes, with both remote e-voting and physical ballot options utilized by shareholders.
| Resolution Outcome | Remote E-Voting | Physical Ballot | Total |
|---|---|---|---|
| Members Voted in Favour | 34 | 29 | 63 |
| Votes Cast in Favour | 40443626 | 3082967 | 43526593 |
| Members Voted Against | 3 | 0 | 3 |
| Votes Cast Against | 27 | 0 | 27 |
Regulatory Compliance and Disclosure
Silicon Valley Infotech Limited has fulfilled its regulatory obligations by submitting the voting results and scrutinizer's report to BSE Limited (Scrip Code: 531738) and The Calcutta Stock Exchange Ltd. (Scrip Code: 26161). The disclosure was made pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company's registered office is located at 10 Princep Street, 2nd Floor, Kolkata - 700072, and the communication was signed by Managing Director Santosh Kumar Jain (DIN: 00174235). The overwhelming shareholder approval for the share capital reduction resolution demonstrates strong stakeholder confidence in the company's strategic restructuring initiative.
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