Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, please find attached notice of postal ballot seeking approval from shareholders of the company for "sponsorship of Highrer education ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Fratelli Vineyards Limited has issued a postal ballot notice seeking shareholder approval (via e-voting from June 5 to July 4, 2026) for sponsoring higher education of Mr. Keshav Sekhri under its Employee Learning & Development Programme. Mr. Keshav Sekhri is an employee of the wholly owned subsidiary Fratelli Wines Private Limited and the son of Ms. Puja Sekhri, a Director, making this a Related Party Transaction. The sponsorship is for the Viticulture and Enology Programme at Cornell University, New York (Fall 2026), with an aggregate cost cap of INR 5 crore (~USD 1 lakh per annum) over four years. The transaction has already been approved by the Audit Committee. Safeguards include a 5-year service bond, pro-rata recovery on breach, and direct payment of fees to the institution.
This is a related party transaction requiring shareholder approval, so shareholders should review the INR 5 crore outflow closely. While framed as a long-term capability investment in viticulture expertise, minority investors may view sponsor funding for a promoter-group member's education as a governance concern, even with the retention bond in place. Voting impact is limited as related parties must abstain.