Uravi Defence Holds 1st EGM FY26; Approves Auditor Appointment & SKL Disinvestment
Uravi Defence and Technology Limited held its 1st EGM for FY26 on March 02, 2026. The meeting approved the appointment of Viren Gandhi & Co. as Statutory Auditors. Shareholders also approved the disinvestment in SKL India Private Limited, including a material related party transaction for 50.01% shareholding transfer.
The EGM's decisions, particularly the disinvestment in a material subsidiary and the appointment of statutory auditors, are significant corporate actions that can impact the company's structure and financial reporting. Therefore, the impact is assessed as medium.
The announcement details routine corporate actions such as auditor appointment and a disinvestment proposal, which are standard procedures. While the disinvestment is a significant event, the sentiment is neutral as it is presented factually without immediate positive or negative implications highlighted.
Uravi Defence and Technology Limited (formerly Uravi T and Wedge Lamps Limited) conducted its 1st Extra-Ordinary General Meeting (EGM) for the Financial Year 2025-26 on Monday, March 02, 2026. The meeting was held virtually via Video Conferencing (VC) / Other Audio Visual Means (OAVM) from 4:15 PM to 4:55 PM IST, in compliance with the Companies Act, 2013, and Listing Regulations.
During the EGM, three key items were transacted. Firstly, M/s. Viren Gandhi & Co., Chartered Accountants, were appointed as the Statutory Auditors to fill a casual vacancy. Secondly, a proposal for disinvestment in SKL India Private Limited was considered and approved. Thirdly, a material related party transaction for the disinvestment of 50.01% shareholding in SKL, a material subsidiary, by transferring shares to Mr. Krishna Kumar Bhatia and/or Mrs. Bhavna Bhatia, was approved.
The meeting was attended by the Managing Director and CEO, Mr. Niraj Gada, Whole Time Directors Mr. Kaushik Gada and Mr. Shlok Gada, Independent Directors, and other Key Managerial Personnel. The Company Secretary and Compliance Officer, Ms. Amita Panchal, provided procedural information. The proceedings for the disinvestment items (2 and 3) were delegated to Independent Director Mr. Sreedhar Ayalur due to the interest of Mr. Niraj Gada. The results of the e-voting will be announced and published on the company's and stock exchanges' websites.
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Uravi Defence and Technology Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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