Synergy Power Development Limited's Annual General Meeting Postponed Again, Controversy of 'Which Came First, the Egg or the Chicken?'

Synergy Power Development Limited's 19th Annual General Meeting (AGM) has been postponed twice, with the primary reason being the controversy surrounding the question "Which came first, the egg or the chicken?" This incident has raised serious questions about the company's future and leadership.

The postponement of the AGM was mainly due to a conflict between the old and the new board of directors. The old board was seeking signatures to meet quorum requirements, while the new board members wanted to verify proxy details. When this issue could not be resolved, the meeting chairman left the hall. Following this, the company secretary verbally announced the postponement of the meeting.

Previously, the AGM had also been postponed due to opposition to fake proxies, and some investors accused the company of using bouncers to intimidate participants. The situation became tense, and police intervention was required.

The company stated that the AGM could not be held due to the pressure and threats from unruly groups. There were reports of these groups pressuring shareholders, registrar office employees, and company officers, as well as interfering with the verification of proxy registrations. Some individuals even attempted to physically assault employees while trying to certify proxies.

Now, questions have arisen about the company's governance, as despite seven vacant positions on the board, only four members, along with one independent director, have been listed. This raises concerns about legal violations and irregularities in the process.

In response, the company issued an official statement expressing regret over the chaotic situation and emphasized its commitment to preventing such activities in the future. This controversy has shaken investor confidence and raised significant doubts about the company’s management and its future direction.