Niyogin Fintech538772Scheme of arrangement

Shareholders and creditors pass resolutions for the Composite Scheme of Arrangement and Amalgamation

Niyogin Fintech Ltd disclosed the voting results of the NCLT-convened meetings of its equity shareholders, secured creditors and unsecured creditors held on October 30, 2026 📋.

By ScoutQuest · Mon 2 Nov 2026, 6:29 PM IST · 2 min read

40.4%Votes polled as % of outstanding shares

Votes polled as % of outstanding shares: 40.4030%.

Votes in favour: 4,49,47,309 votes in favour
Votes in favour as % of votes polled: 100.0000%
Votes polled as % of outstanding shares: 40.4030%

What was voted on

Niyogin Fintech Ltd has disclosed the voting results and Scrutinizer's Reports for three meetings held on October 30, 2026 - of equity shareholders, of secured creditors and of unsecured creditors - convened on the directions of the NCLT, Chennai Bench. The company stated that the resolutions were passed with the requisite majority.

The equity shareholders voted on a special resolution: approval of the Composite Scheme of Arrangement and Amalgamation between Niyogin Fintech Ltd (Demerged Company / Amalgamating Company), Niyogin Finserv Ltd (Resulting Company) and iServeU Technology Pvt Ltd (Amalgamated Company).

Equity shareholders' vote

Total shares held: 111247426
Votes polled as % of outstanding shares: 40.4030%
Votes in favour: 4,49,47,309
Votes in favour as % of votes polled: 100.0000%
Votes against: 2
Invalid votes: 1950000

Category-wise break-up

Promoter and Promoter Group: 43941490 shares held; 36673535 votes polled (83.4599%); all in favour.
Public Institutions: 24199068 shares held; 1950000 votes polled (8.0582%); all in favour; 1950000 votes shown as invalid.
Public Non-Institutions: 43106868 shares held; 6323774 votes polled (14.6700%); 6323774 in favour and 2 against.

Participation

Total shareholders on the record date (October 23, 2026): 9745
Public shareholders attending through video conferencing / other audio-visual means: 45
Promoter and Promoter Group attending: Nil

One shareholder's votes were set aside

The Scrutinizer's report notes that no board resolution was provided by the company for one shareholder, Aionios Alpha Fund, so those votes may not be counted. The summary of results shows one disqualified voter with 19,50,000 votes, the same number shown under invalid votes.

The creditors' meetings

The meeting of secured creditors was held on 30.10.2026 at 11:30 AM through video conferencing, with voting on the NSDL e-voting portal. The quorum for the meeting was 1 secured creditor.
Board resolutions were received from 2 secured creditors, Ambit Finvest and Shine Star Built-Cap Pvt Ltd, authorising their respective persons to vote on their behalf.
Zakir Hussain Abdul Mallick is a private person, so the votes on behalf of the remaining 2 secured creditors would not count.

The Scrutinizer submitted the results to the Chairperson appointed by the NCLT for consideration and further action.

How a retail investor can read this

The resolution before shareholders was the Composite Scheme involving Niyogin Fintech Ltd, Niyogin Finserv Ltd and iServeU Technology Pvt Ltd, and it was passed as a special resolution.
Of the total 111247426 shares held, 40.4030% took part in the vote, and every vote polled was in favour (100.0000%), with 2 votes against.
These results, along with the creditors' decisions, were placed before the NCLT-appointed Chairperson for further action.

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