Brigade Hotel Ventures Limited has informed the Exchange regarding Notice of Postal Ballot
BRIGHOTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Brigade Hotel Ventures Limited is seeking shareholder approval via postal ballot for material related party transactions with its holding company Brigade Enterprises Limited. The proposed transactions include land/property lease, loan repayment, cross-charge of expenses, lease rentals, and sale/purchase of goods worth up to Rs. 290 crore, representing 55% of the company's annual consolidated turnover of Rs. 525 crore for FY 2025-26. The transactions span 12 months and include repayment of an unsecured loan availed during COVID-19 at 10.50% p.a. interest. The Audit Committee and Board have already approved these transactions as being at arm's length and in ordinary course of business. Directors M.R. Jaishankar, Nirupa Shankar, and Amar Mysore are common to both entities and will not vote on this resolution. E-voting runs from May 23 to June 21, 2026.
Shareholders should carefully review this proposal as it involves significant transactions (55% of turnover) with the parent company. The approval is routine for group operational needs but involves substantial financial exposure to Brigade Enterprises Limited. Since it is an Ordinary Resolution, a simple majority will decide the outcome.