Magellan Cloud Limited conducted its Extra-Ordinary General Meeting on February 03, 2026, through video conferencing to address significant corporate developments and director appointments. The meeting commenced at 12:00 P.M. (IST) and concluded at 12:22 P.M. (IST), with the company subsequently filing regulatory disclosure under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Meeting Participation and Leadership

The Extra-Ordinary General Meeting witnessed participation from stakeholders across different categories. Company Secretary & Compliance Officer Sameer Lalwani welcomed participants and ensured compliance with regulatory requirements for virtual meetings.

The meeting was chaired by Joseph Sudheer Reddy Thumma, Managing Director, with attendance from key leadership including Jagan Mohan Reddy Thumma (Managing Director), Pratik Harishbhai Bhatt (Chief Financial Officer), and Priyanka Dharmesh Pandey (Non-Executive Independent Director). Carwin Heierman, Executive Director, also participated in the proceedings.

Key Director Appointments and Re-designations

The meeting addressed five special resolutions, with three specifically focusing on director appointments and re-designations. The shareholders approved the appointment of two new directors and the re-designation of the existing Managing Director as Chairman and Managing Director.

Director Profiles and Background

Narasimha Rao Chundu brings extensive experience from the financial services sector, having begun his professional journey in 2001 with Global Direct where he led a 40-member team focused on telecom. In 2006, he transitioned into financial services and stock market domain, taking progressively senior leadership positions at reputed institutions including ICICI Web Trade Ltd, Exclusive Securities, Kotak Mahindra Life Insurance, Anand Rathi Commodities Ltd, and ITI Investor Services Ltd.

Ameeruddin Syed, appointed as Chief Operating Officer and Whole Time Director, oversees the company's core operational functions, ensuring seamless execution across departments. He works closely with senior leadership to develop and implement growth strategies, streamline processes, strengthen governance, and support long-term business objectives.

Additional Corporate Actions

Beyond director appointments, the meeting also approved the Scheme of Merger with IVIS International Private Limited through fast-track route under Section 233, and authorized qualified institutional placement for equity shares and eligible securities. M/s. Deep Shukla & Associates served as Secretarial Auditors and Scrutinizers, while Sajid Shaikh represented M/S SGCO & Co. LLP as Statutory Auditors.

Regulatory Compliance and Next Steps

The company filed its regulatory disclosure on February 04, 2026, with both Bombay Stock Exchange Limited (Scrip Code: 538891) and National Stock Exchange of India Ltd. (Symbol: MCLLOUD). The disclosure includes detailed profiles of appointed directors as required under SEBI circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015. The company will notify the Scrutinizer's Report and e-voting results to Stock Exchanges under Regulation 44, ensuring complete regulatory compliance and transparency for all stakeholders.

Source:

Magellanic Cloud Limited has announced a significant contract win through its wholly owned subsidiary, with Provigil Surveillance Limited securing a Letter of Acceptance (LoA) worth ₹5.36 crore from Central Railway's Nagpur Division. The project represents a strategic expansion of the company's presence in railway safety and surveillance solutions.

Project Scope and Technical Specifications

The comprehensive contract encompasses end-to-end supply, installation, testing, commissioning, and maintenance of AI-based CCTV surveillance systems. These systems will be deployed at manned, non-interlocked Level Crossing gates in the South Section of the Nagpur Division.

Contract Details and Timeline

The project carries significant value and operational importance for railway safety enhancement. Central Railway's Nagpur Division has awarded this domestic contract with specific execution parameters.

Management Commentary

Mr. Joseph Sudheer Reddy Thumma, Global CEO & Managing Director of Magellanic Cloud Limited, emphasized the strategic significance of this contract win. He stated that the award represents a strong endorsement of the company's capabilities in delivering AI-driven, high-reliability surveillance and safety solutions in mission-critical environments.

The management highlighted that through the deployment of intelligent, AI-enabled monitoring at key Level Crossing gates, the company continues to strengthen its collaboration with Indian Railways while reaffirming its commitment to enhancing safety, transparency, and operational efficiency across the rail network.

Corporate Compliance

The company has confirmed full compliance with regulatory requirements, stating that none of the promoter, promoter group, or group companies have any interest in the entity that awarded the contract. Additionally, the order does not fall within the purview of related party transactions, ensuring transparent business practices.

Strategic Implications

This contract win reinforces Magellanic Cloud's positioning in the railway infrastructure and safety solutions sector. The deployment of AI-enabled surveillance systems at critical railway infrastructure points demonstrates the company's technological capabilities and its role in modernizing India's railway safety infrastructure through advanced monitoring solutions.