Corporate News
Dev Information Technology Limited is seeking shareholder approval for related party transactions with Byte Technosys Private Limited, totaling up to Rs 50 crores for the financial year 2026-27. The transactions involve Dev Information Technology providing services to Byte Technosys, valued at up to Rs 25 crores, and receiving services from Byte Technosys, also valued at up to Rs 25 crores, both at arm's length rates. Byte Technosys, in which Dev Information Technology holds an equity stake, reported a turnover of Rs 28.75 lakhs and a loss after tax of Rs 5.27 lakhs in fiscal year 2024-25, with a net worth of Rs 52.33 lakhs. The transactions are intended to support Dev Information Technology’s investment in Byte Technosys and foster innovation, though the involvement of CFO Hrashil Shah and Managing Director Jaimin Shah in Byte Technosys raises potential conflict of interest concerns.