Magellanic Cloud Limited (formerly South India Projects Limited) conducted its Extra-Ordinary General Meeting (EOGM) today, Tuesday, February 03, 2026, via Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The meeting, held in compliance with the Companies Act, 2013, and relevant SEBI and MCA circulars, addressed several key business items. The primary agenda items included the consideration and approval of a Special Resolution for the merger of Magellanic Cloud Limited with IVIS International Private Limited through the fast-track route. Other significant resolutions passed were the appointment of Mr. Narasimha Rao Chundu as an Independent Director and Mr. Ameeruddin Syed as a Whole-Time Director, both for a term of five years. The EOGM also sought approval for raising capital through a qualified institutional placement and for re-designating Mr. Joseph Sudheer Reddy Thumma as the Chairman and Managing Director (CMD) for a term of five years. The meeting commenced at 12:00 P.M. (IST) and concluded at 12:22 P.M. (IST). Key management personnel, including Managing Directors, CFO, Company Secretary, and Independent Directors, were present, along with representatives from the statutory and secretarial auditors. The company will further notify the stock exchanges with the Scrutinizer's Report and e-Voting results.
