Please find attached herewith Postal Ballot Notice of Ceenik Export (India) Limited
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Ceenik Exports (India) Ltd has issued a Postal Ballot Notice dated June 2, 2026, seeking shareholder approval through remote e-voting (via NSDL) from June 3, 2026 to July 2, 2026, with results to be declared by July 4, 2026. Four items are up for voting: (1) A Special Resolution to entirely replace the Main Object Clause of the MOA to pivot the company into proprietary trading in derivatives (equity, commodity, currency, interest rate) and real estate development, redevelopment, and infrastructure projects; (2) An Ordinary Resolution to regularize the appointment of Mr. Nitin Hingorani (DIN: 07129497), aged 31 and son of the Managing Director, as a Promoter and Executive Director — he already holds 13.55% (5,44,800) shares; (3) Ratification of related party transactions with Niktin Properties & Estate Pvt Ltd (a promoter-related entity) for FY 2025-26, with the limit increased from Rs. 15 Cr to Rs. 20 Cr (an unsecured loan of Rs. 4.98 Cr has already been taken); and (4) Approval of further related party transactions with the same entity up to Rs. 25 Cr for FY 2026-27. None of the directors other than the promoter family are interested in these resolutions.
This is a significant strategic shift for shareholders — the company is moving away from its traditional exports business into derivatives trading and real estate, a complete change in business model. Additionally, the promoter family is strengthening board control by inducting a younger family member, while raising related-party borrowing limits with a promoter-linked entity up to Rs. 45 Cr across two financial years. Shareholders should evaluate the new business direction, management credentials for derivatives and real estate, and the pricing/terms of related-party loans before voting.