On March 12, 2025, Baid Finserv Limited successfully conducted its 01st/2024-25 Extraordinary General Meeting (EGM) through video conferencing (VC) and other audio-visual means (OAVM). The meeting focused on key resolutions regarding amendments to the company's Articles of Association and the issuance of convertible warrants through preferential issue to the promoters.

In compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations) and Section 108 of the Companies Act, 2013, the company appointed a scrutinizer for the e-voting process. This ensured that the voting was conducted smoothly, adhering to all regulatory requirements.

The EGM’s voting period, which began on March 8, 2025, and ended on March 11, 2025, facilitated both remote e-voting and in-person voting through the VC system. The resolutions were put to a vote with shareholders casting their ballots either remotely or during the EGM. Central Depository Services (India) Limited (CDSL) provided the electronic voting system, ensuring a transparent and secure voting process.

According to the scrutinizer's report, a significant number of votes were cast in favor of both special resolutions. The resolution on the amendment of the Articles of Association received an overwhelming 99.9977% in favor, while the issuance of convertible warrants through a preferential issue to the promoters also garnered similar support. These resolutions were passed with the requisite majority, demonstrating strong shareholder confidence in the company’s strategic decisions.

The scrutinizer, CS Manoj Maheshwari of V. M. & Associates, confirmed that the voting process was fair and compliant with all applicable laws. No invalid votes were counted, and all the votes cast were valid. The company ensured that no shareholder voted both remotely and during the EGM, adhering to the rules set forth.

In the first resolution, shareholders overwhelmingly approved the amendment to the company’s Articles of Association, which is a vital step for future corporate restructuring. This was followed by a special resolution for issuing convertible warrants to the promoters, which also met with resounding support from the shareholders.

The detailed scrutinizer’s report, which includes voting breakdowns and percentages, indicates that the voting process was efficient and well-managed, leading to the successful passing of the resolutions. The report will be available on the company’s website for shareholders and other stakeholders to review.

With the passing of these resolutions, Baid Finserv Limited is now positioned for strategic growth, ensuring that its governance structures and funding mechanisms are aligned with the company's long-term goals. Shareholders can be assured that the company’s management is committed to transparency and responsible corporate governance.

The company’s leadership, led by Chairman and Managing Director Panna Lal Baid, has expressed gratitude for the shareholders' participation and support in the decision-making process. The company is optimistic about the future prospects following the approval of these key resolutions.

For additional details, shareholders are encouraged to visit the company’s official website or contact the company’s secretarial team.

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