Addendum to Notice of the Annual General Meeting (''AGM'') of 7NR Retail Limited Scheduled to be held on Wednesday, 10th September, 2025 at 4:00 P.M.
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7NR Retail Ltd has issued an addendum to its AGM notice (AGM scheduled for September 10, 2025) adding a new agenda item to seek shareholder approval for material related party transactions with M/s. Stitched Textile Limited. The proposed transactions cover sale/purchase of goods, property dealings, leasing, services, and agency appointments, capped at Rs. 10 crore over five years (April 2025 to March 2030). The transaction value represents 46.57% of the company's FY25 turnover of Rs. 21.47 crore, well above the 10% materiality threshold (~Rs. 2.15 crore) that triggers mandatory shareholder approval under SEBI Listing Regulations. Managing Director Chetan Kumar Ojha is also a director at Stitched Textile Limited, confirming the related-party nature of the deal.
Shareholders will vote on this related-party transaction via ordinary resolution at the upcoming AGM. Given the director overlap and the size of the transaction relative to turnover, retail investors should review whether terms are at arm's length, though approval only requires a simple majority.