Bharat Seats Limited has informed the Exchange regarding Proceedings of Postal Ballot
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Bharat Seats Limited has informed the stock exchanges that its shareholders, through a postal ballot, have approved the proposal for Material Related Party Transactions with Maruti Suzuki India Limited. The postal ballot notice was originally issued on February 3, 2026, and the results of the voting were announced on March 13, 2026. The disclosure has been made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The company had earlier submitted related intimations on February 3, 4, and 10, 2026, leading up to this approval. The approval is significant because Maruti Suzuki is a key related party for Bharat Seats, which supplies automotive seating to Maruti Suzuki vehicles.
This approval allows Bharat Seats to continue or expand its business transactions with its major customer and related party, Maruti Suzuki India Limited, without regulatory hurdles. It provides business continuity and operational clarity but also keeps the company heavily dependent on Maruti Suzuki for revenue.