Brightcom Group Limited (BGL) held its Extraordinary General Meeting (EGM) on Wednesday, April 30, 2025, through video conferencing (VC) and other audio-visual means (OAVM). The meeting, chaired by Executive Director Mr. Raghunath Allamsetty, saw active participation with 102 members joining.
A resolution to reduce 6,00,000 equity shares of ₹2 each shares that are currently issued but unlisted was passed with 99.73% votes in favour. The move aims to align the Issued Capital with Listed Capital, aiding in capital structure transparency and compliance.
The company will now proceed with the necessary legal and procedural steps to complete the capital reduction process.
The shareholders ratified the appointment of Mr. Shrikant Gehlot as Independent Director on the Board of BGL, with 99.94% of votes in favour.
This step satisfies required governance norms and strengthens the company’s board structure with an experienced independent member.
The EGM also approved the appointment of Mr. M. Suresh Kumar Reddy as the Whole-Time Director and Chief Executive Officer (CEO). The resolution received 85.37% of votes in favour.
Mr. Reddy’s appointment remains subject to obtaining necessary legal clearances. His formal induction will follow once consent and clearances are completed.
The resolution for appointing Mr. S. L. Narayana Raju as Chief Financial Officer was also approved with 85.39% support from shareholders.
As with the CEO, his appointment is conditional upon receipt of full legal clearance. Once confirmed, the company will proceed with formal onboarding procedures.
Read More: Why Is Brightcom Group’s Trading Suspended?
The EGM of Brightcom Group marks a crucial step in aligning the company’s capital structure and revitalising its leadership team. With strong shareholder support for key resolutions, the company now awaits regulatory clearances to proceed with executive appointments. These decisions reflect BGL’s focus on corporate governance, transparency, and strategic leadership transition.
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Published on: May 2, 2025, 12:26 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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