Corporate News
Dev Information Technology Limited (DEVIT) seeks shareholder approval for related party transactions with Byte Technosys Private Limited, in which DEVIT holds an investment. The transactions involve DEVIT providing services, valued at up to Rs 25 crores, and receiving services from Byte Technosys, also valued at up to Rs 25 crores, for the financial year ending March 31, 2027. Byte Technosys, currently operating at a loss with a net worth of Rs 52.33 lakhs as of fiscal year 2025, generates revenue of Rs 28.75 lakhs. Directors Hrashil Shah and Jaimin Shah have directorship and shareholding interests in Byte Technosys, respectively. The transactions are intended to foster innovation and collaboration, and require approval under the Companies Act, 2013 and SEBI regulations.