Brightcom Group Limited has issued an official clarification regarding the status of two resolutions passed at its Extraordinary General Meeting (EGM) held on April 30, 2025.
The company addressed growing speculation around the appointments of Mr. M. Suresh Kumar Reddy as Chief Executive Officer (CEO) and Mr. S. L. Narayana Raju as Chief Financial Officer (CFO), both of which were approved by shareholders but remain deferred pending legal prerequisites.
The appointments stemmed from a shareholder requisition dated March 25, 2025. According to the company, the request came from investors holding over 10% of Brightcom’s paid-up equity share capital—legally obligating the Board to include these resolutions in the EGM notice under Section 100(2)(a) of the Companies Act, 2013.
While Resolutions 3 and 4 were passed by shareholders, their implementation is on hold. The company clarified that:
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Originally scheduled for May 1, 2025, legal hearings related to the appointees were postponed and are unlikely to proceed until mid-June, due to the summer recess of the courts. Brightcom anticipates final consents and legal clearances will only be available after this period.
To address market concerns, Brightcom emphasised that it has not violated any SEBI regulations or prematurely acted on the resolutions. Any further action should the legal and regulatory hurdles be cleared will be carried out in full compliance with the Companies Act, 2013, and SEBI (LODR) Regulations, 2015.
If and when legal conditions are met and consents are reconfirmed, the company will:
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This move by Brightcom signals a careful, law-abiding approach in the wake of shareholder activism. By clarifying the deferred nature of the CEO and CFO appointments, the company aims to maintain investor trust and regulatory compliance as legal proceedings continue.
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Published on: May 5, 2025, 11:37 AM 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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