Vikas EcoTech Limited — Others, 07-03-2025: Shareholders meeting

Vikas Ecotech Limited has announced a board meeting on March 29, 2025, to discuss an extraordinary general meeting (EGM) aimed at approving a proposed reduction of paid-up share capital from ₹176.87 crore to ₹138.83 crore by cancelling 38.03 crore equity shares previously issued to shareholders of Shamli Steels Private Limited. This reduction aims to reverse the impact of a share-swap transaction following financial discrepancies discovered during management's due diligence on Shamli Steels. The move is expected to mitigate potential liabilities and safeguard Vikas Ecotech's financial integrity. Investors may view this as a positive outlook, reaffirming the company's commitment to maintaining robust governance and financial health.