Brightcom Group Schedules EGM for April 30 to Discuss Capital Reduction

Brightcom Group Limited has announced that it will hold an Extraordinary General Meeting (EGM) on April 30, 2025, at 11:30 AM. The meeting will be conducted virtually via Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The EGM will involve important decisions regarding the company’s financial structure and governance.

Key Resolutions on the Agenda

A significant resolution to be discussed is the proposed capital reduction, where the company aims to reduce its issued, subscribed, and paid-up share capital by cancelling 6,00,000 equity shares of ₹2 each.

This reduction is intended to reconcile the difference between the company’s issued and listed capital, with the aim of making the company’s capital structure more efficient.

The capital reduction is in compliance with Section 66 of the Companies Act, 2013, and will require confirmation by the National Company Law Tribunal (NCLT), along with other necessary approvals.

Ratification of Appointment of Independent Director

The shareholders will also vote on the ratification of Mr. Shrikant Gehlot’s appointment as an Independent Director for a term of five consecutive years.

Mr. Gehlot was appointed as an Additional Director (Independent) of the company on January 16, 2025, and this appointment now requires shareholder approval to formalise his position.

His ratification aligns with the company’s commitment to maintaining strong governance practices through independent oversight and guidance.

Why These Resolutions Matter?

The proposed capital reduction is an important step towards streamlining the company’s financial structure. By cancelling shares not backed by assets, Brightcom Group aims to reduce unnecessary capital and better align its balance sheet, which could lead to improved financial stability.

Ratifying Mr. Gehlot’s appointment as an Independent Director highlights the company’s focus on enhancing corporate governance. Independent directors play a vital role in ensuring that the company operates in a transparent and accountable manner.

Brightcom Group is addressing certain compliance issues, including pending financial disclosures and trading suspensions. However, it is actively working towards revocation of these suspensions and ensuring regulatory compliance.

Read more: What Does Brightcom Group Do?

Conclusion

The upcoming EGM reflects Brightcom Group’s continued efforts to optimise its capital structure and reinforce governance standards.

Shareholders will play a key role in shaping the company’s direction through these important resolutions, highlighting the significance of active participation in corporate decision-making.

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