Notice of Postal Ballot for approval of business items mentioned in Notice dated April 24, 2025.
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Awaiting price reaction for this filing.
Choksi Asia Limited has issued a Postal Ballot Notice dated April 24, 2025, seeking shareholder approval through remote e-voting (April 26 to May 25, 2025) on five items. Two Special Resolutions cover continuation of remuneration paid to promoter directors Mr. Samir Choksi (Managing Director) and Mr. Jay Choksi (Whole-time Director) up to July 31, 2025 — no hike in pay, only SEBI compliance following the recent amalgamation. Two Ordinary Resolutions approve related-party transactions (loans/deposits up to INR 5 crore each at 7.45% interest) with the two promoter directors. A fifth Special Resolution seeks approval to change the Main Object Clause of the company to focus on Non-Destructive Testing (NDT) equipment, industrial inspection services, and advanced diagnostics. Promoters and promoter group will abstain from voting on the related-party resolutions.
The Main Object shift toward NDT and industrial testing signals a strategic pivot in the company's business direction, which shareholders should review carefully. The related-party borrowings from promoter directors (up to Rs 5 crore each) are noteworthy given the family-controlled structure and that promoters cannot vote on these items. The remuneration items are largely procedural compliance post-amalgamation and unlikely to materially affect stock price.