On March 21, 2025, ID Info Business Services Limited conducted its 2nd Extraordinary General Meeting (EGM) for the financial year 2024-25 through video conference/other audio-visual means, starting at 2:30 p.m. and concluding at 2:37 p.m. The meeting was attended by 8 members, with 5 from the promoter group and 3 from the public attending through video conferencing.

Key Resolutions Discussed

Three key resolutions were put forward during the meeting:

1. Increase in Authorized Share Capital: The company proposed an increase in its authorized share capital from Rs. 25 crores to Rs. 36 crores.
2. Approval for Related Party Transaction: A resolution was passed to approve the repayment of long-term liabilities (unsecured loans).
3. Issue of Equity Shares on Preferential Basis: The company proposed to issue up to 1,54,35,000 equity shares at a price of Rs. 20 per share (including a premium of Rs. 10), aggregating Rs. 30.87 crore.

Voting Details

• The meeting was conducted with an e-voting system managed by National Securities Depository Services Limited (NSDL).
• Remote e-voting was open from March 18, 2025, to March 20, 2025. Additional voting was allowed during the meeting for those who had not cast their vote previously.
• No physical attendance was required as per the MCA and SEBI circulars, and proxies were not needed, except for corporate representatives.

Results

All three resolutions were passed unanimously by the shareholders, as confirmed by the scrutinizer's report. The voting showed 100% approval for each resolution with no votes against. The results, along with the scrutinizer's report, were shared with the BSE Limited and made available on the company's website within 48 hours as per regulatory requirements.

Scrutinizer's Report

The report by Vivek Surana & Associates, appointed as the scrutinizer for the voting process, confirmed the validity of the votes cast and declared the resolutions as duly passed. The report also provided details on the voting results, confirming that no invalid votes were cast.

The meeting concluded with a vote of thanks to all participants, and the e-voting platform remained open for an additional 15 minutes post-meeting to facilitate any final votes. The results were expected to be made public shortly thereafter.

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