Please find enclosed herewith Notice of Postal Ballot along-with Explanatory Statement dated 17.05.2026.
ASHIKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ashika Credit Capital Ltd is seeking shareholder approval via postal ballot for 13 resolutions. Key items include: (1) Appointment of M/s. J K V S & Co as new Statutory Auditors replacing M/s. DHC & Co who resigned (deemed ineligible per RBI criteria), effective 18th May 2026. (2) Authorization for borrowing up to Rs. 2,500 Crores. (3) Creation of mortgage/charge on assets up to Rs. 2,500 Crores. (4) Limits for loans/guarantees to subsidiaries/associates under Section 185 up to Rs. 3,000 Crores. (5) Donation limit up to Rs. 10 Crores per year. (6-13) Approval for multiple material related party transactions with subsidiaries, promoter groups, promoter directors, and AIFs (Alternative Investment Funds) for periods of 3-5 years from FY 2026-27. All related party transactions are stated to be at arm's length and in ordinary course of business. Remote e-voting runs from 31st May 2026 to 29th June 2026.
The proposed borrowing limit of Rs. 2,500 Crores and Section 185 limit of Rs. 3,000 Crores indicate the company is preparing for significant expansion, possibly through acquisitions or larger lending operations. Multiple related party transaction approvals suggest continued inter-group financial arrangements. The auditor change due to RBI ineligibility is a compliance matter and not necessarily a concern. Shareholders should review whether the extensive related party transactions and large borrowing powers are in their interest.