Veefin Solutions Limited has disclosed the outcome of the voting by its secured creditors on a resolution to approve a Scheme of Amalgamation. The meeting was convened pursuant to the directions of the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, via its Order dated 13 May 2026 in Company Scheme Application CA(CAA) No. 92/MB-IV/2026.

Nature of the Event

The disclosure pertains to the results of remote e-voting and e-voting conducted at a meeting of the company's secured creditors. The meeting was held to seek approval for a Scheme of Arrangement and Amalgamation (by way of Merger by Absorption) of GlobeTF Solutions Limited (formerly known as GlobeTF Solutions Private Limited) and Estorifi Solutions Limited (formerly known as Estorifi Solutions Private Limited) with Veefin Solutions Limited.

Voting Process and Scrutinizer Appointment

The Hon'ble NCLT appointed Mr. Ashwini Gupta, a Practising Company Secretary, as the Scrutinizer for the voting process via its order dated 13 May 2026. The remote e-voting period commenced at 10:00 am IST on 30 June 2026 and concluded at 5:00 pm IST on 16 July 2026. E-voting at the physical meeting occurred on 17 July 2026 from 5:00 pm IST to 5:28 pm IST.

The cut-off date for determining the secured creditors entitled to vote was 31 March 2026.

Voting Results and Resolution Approval

The single resolution was a Special Resolution seeking approval for the Scheme of Amalgamation.

  • Total Value of Valid Votes Polled: ₹25,00,00,000 (Indian Rupees Twenty Five Crore)
  • Votes in Favor: 1 secured creditor voted in favor, representing an outstanding amount of ₹25,00,00,000. This constituted 100% of the valid votes by value.
  • Votes Against: 0 secured creditors voted against, representing an outstanding amount of ₹0.
  • Invalid Votes: 0 invalid votes were cast, representing an outstanding amount of ₹0.

The resolution was passed by the requisite majority as required under Section 230(6) of the Companies Act, 2013, which mandates approval by a majority representing three-fourths in value of the creditors present and voting.

Creditor Participation and Quorum

The company had 2 secured creditors on record.

  • One creditor, with an outstanding debt of ₹39,00,761.29 (Rupees Thirty-Nine Lakh Seven Hundred Sixty-One and Twenty-Nine Paise), abstained from voting. This creditor, identified via an email from BMWFS-CustomerService@bmw.in received on 16 July 2026 at 5:59 PM, expressed unwillingness to attend the meeting but indicated its No Objection Certificate (NOC) for the scheme would be shared in due course.
  • One creditor participated, holding an outstanding debt of ₹25,00,00,000, which represented 98.46% of the total outstanding debt owed to secured creditors. This met the quorum requirements as per the NCLT order.

Next Steps and Authority

The Scrutinizer's Report, dated 17 July 2026, was submitted to Mr. Venkata Subba Rao, the Former Member (Judicial) of NCLT appointed as Chairman for the meeting. All evoting records were handed over to Ms. Payal Maisheri, the Chief Financial Officer of Veefin Solutions Limited, for safekeeping.

The board of directors is authorized to implement the scheme and make any necessary modifications or amendments as required by the NCLT or other regulatory authorities, without seeking further approval from the creditors.