Vikas EcoTech Limited — Board Meeting, 07-03-2025: Outcome of Board Meeting

Vikas Ecotech Ltd. has announced a board meeting outcome where the Board approved a draft scheme for the reduction of paid-up share capital by canceling 38.04 crore equity shares issued to the shareholders of Shamli Steels Private Limited. This action results in a reduction of the company’s paid-up capital from ₹176.87 crore to ₹138.84 crore and cancels a securities premium account of ₹121.71 crore. Following this, Shamli Steels will no longer be a subsidiary, and its financials won't be consolidated. The Board also approved a new registered office location and scheduled an Extra-Ordinary General Meeting for March 29, 2025, to seek shareholder approval on key decisions.