XTGlobal Infotech approves board changes, increased foreign investment limit

XTGlobal Infotech Limited’s board of directors, at its meeting on September 5, 2025, approved the convening of the 37th annual general meeting (AGM) on September 29, 2025, at 10:00 A.M. IST via video conferencing. The board also approved the annual report for fiscal year 2024-25, which includes the board’s report, corporate governance report, and MD&A report, alongside other statutory disclosures.

Key board changes were approved, including the re-appointment of Srinivasa Raju Kosuri as a director liable to retire by rotation, and Jagannatha Prasad Malireddy as a non-executive director until the 38th AGM. The board also noted the cessation of Srinivasa Pendyala, an independent director, effective September 22, 2025, upon completing his tenure, and expressed appreciation for his services.

Additionally, the board approved and recommended to shareholders an enhancement of the foreign investment limit to 100% of the paid-up equity share capital under the automatic route for the IT/ITES sector. Related party transactions for fiscal year 2025-26 with subsidiaries XTGlobal, Inc., USA, and Network Objects, Inc., USA, in the ordinary course of business and on arm’s length basis were also approved.