Swan Corp Limited has successfully concluded its postal ballot process for approving a related party transaction with Swan Defence and Heavy Industries Limited (SDHI). The remote e-voting process ended on March 2, 2026, at 5:00 PM IST, with the company announcing that the ordinary resolution has been passed with requisite majority.

Voting Results Overview

The postal ballot witnessed significant participation from institutional and non-institutional public shareholders, though promoter group votes faced regulatory restrictions.

Resolution Performance

The ordinary resolution for the related party transaction with SDHI received overwhelming support from voting shareholders.

Category-wise Voting Pattern

Public institutional investors showed strong participation with 80.97% of their shares being voted, while public non-institutional participation remained at 2.31%.

Invalid Votes and Regulatory Compliance

A significant aspect of this postal ballot was the invalidation of 169103000 votes from 13 shareholders, primarily from the promoter and promoter group category. These votes were deemed invalid due to restrictions prescribed under Regulation 23(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Scrutinizer Details and Process

Jignesh M Pandya of M/s Jignesh Pandya & Co., a practicing Company Secretary with membership number 7346, served as the scrutinizer for the postal ballot process. He was appointed by the Board of Directors on January 27, 2026, and submitted his report on March 2, 2026.

The remote e-voting facility was provided by National Securities Depository Limited (NSDL) and remained open from February 1, 2026, at 9:00 AM until March 2, 2026, at 5:00 PM. The company dispatched the postal ballot notice on January 29, 2026, through electronic mode only to members whose email addresses were registered.

Corporate Compliance

Swan Corp Limited has fulfilled all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations. The voting results and scrutinizer's report have been made available on the company's website at www.swan.co.in and on NSDL's e-voting portal. Company Secretary and Compliance Officer Saptarshi Ganguly signed the compliance documents on March 4, 2026.

Swan corp Limited has announced the reconstitution of its Audit Committee following a Board resolution passed by circulation. The corporate governance restructuring became effective from February 20, 2026, as communicated to the stock exchanges on February 25, 2026.

New Audit Committee Composition

The reconstituted Audit Committee features a balanced mix of independent and executive directors to ensure effective oversight and governance. The committee structure demonstrates the company's commitment to maintaining robust corporate governance standards.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, which mandates disclosure of material events and information. Swan Corp Limited communicated this development to both the National Stock Exchange Limited and BSE Limited simultaneously.

Committee Leadership

Mr. Rohinton Shroff has been appointed as the Chairman of the reconstituted Audit Committee. As a Non-Executive, Independent Director, his leadership role aligns with regulatory requirements for audit committee independence. The committee includes two independent directors and one executive director, ensuring appropriate balance between independence and operational insight.

Corporate Governance Framework

The Audit Committee reconstitution reflects Swan Corp Limited's ongoing commitment to strengthening its corporate governance framework. The committee will be responsible for overseeing financial reporting processes, internal controls, and audit functions. Company Secretary Saptarshi Ganguly signed the official communication, confirming the formal approval and implementation of these changes.