Veefin Solutions Secured Creditors Approve Scheme of Amalgamation via Voting
The resolution for the approval of the Scheme of Amalgamation involving GlobeTF Solutions Limited and Estorifi Solutions Limited with Veefin Solutions Limited has been approved by the company's secured creditors. This decision followed remote e-voting and subsequent voting at a meeting convened on July 17, 2026.The resolution required a Special majority of secured creditors. The scheme details were presented to the creditors in the Notice dated June 10, 2026. The purpose of the approval was the Scheme of Amalgamation (by way of Merger by Absorption) of GlobeTF Solutions Limited (formerly GlobeTF Solutions Private Limited) and Estorifi Solutions Limited (formerly Estorifi Solutions Private Limited) with Veefin Solutions Limited and their respective creditors.
The votes were overseen by a Scrutinizer, Mr. Ashwini Gupta, Practising Company Secretary, following the appointment made by the Hon'ble National Company Law Tribunal, Mumbai Bench on May 13, 2026.
Resolution Results and Creditor Participation
The outcomes of the voting process, which included both remote e-voting and the subsequent meeting, indicated that the resolution was passed by a majority representing three-fourths in value of the secured creditors who cast their votes.Key financial details regarding the resolution are summarized below:
| Resolution Requirement | Description | Total Value of Valid Votes Polled |
|---|---|---|
| Special | Approval of Scheme of Amalgamation (by way of Merger by Absorption) of GlobeTF Solutions Limited and Estorifi Solutions Limited with Veefin Solutions Limited. | INR 25,00,00,000 |
The voting results detailed in the Scrutinizer's Report confirm the following:
| Outcome Category | Votes Cast (Number of Creditors) | Total Value of Secured Creditors | Percentage of Valid Votes |
|---|---|---|---|
| Voted in Favor | 1 | INR 25,00,00,000 | 100% |
| Voted Against | 0 | 0 | 0% |
| Invalid Votes | 0 | 0 | 0% |
Voting Process Details
The voting process encompassed the period from June 30, 2026, to July 17, 2026. The company provided its secured creditors with the facility to vote through remote e-voting and at the meeting.The Scrutinizer's Report established quorum after reviewing creditor attendance. Of the two total secured creditors identified, one had expressed unwillingness to attend the meeting. However, the remaining secured creditor was present during the meeting, holding an outstanding value of Rs. 25,00,00,000 (Twenty Crore only), which constituted 98.46% of the total outstanding value and thus satisfied the quorum requirement.
The resolution has been approved by the secured creditors with the requisite majority as stipulated under Section 230(6) of the Companies Act.
Stock Price Movement
Veefin Solutions Ltd. closed at the close of trade today, with shares settling at ₹330.55, marking a solid 5.24% gain. The stock showed considerable range throughout the session, having traded between an intraday low of ₹310.00 and a high of ₹332.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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