Postal Ballot Notice for Approval of Investment in Subsidiary "Instant Finserve Private Limited" exceeding limits prescribed under section -186 of Companies Act, 2013.
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Galactico Corporate Services Ltd has issued a Postal Ballot Notice seeking shareholder approval (via Special Resolution) to invest up to Rs. 6 Crores in its subsidiary Instant Finserve Private Limited, an amount that exceeds the thresholds prescribed under Section 186 of the Companies Act, 2013. The investment will be funded using proceeds from the company's recent rights issue, and will be made in one or more tranches as a long-term investment. The subsidiary will primarily use the funds to repay outstanding optionally convertible debentures (OCDs) owed to the Promoter Group, with any remainder used for general corporate purposes. The transaction is classified as a related-party transaction and is being done at arm's length. Remote e-voting runs from December 19, 2025 to January 17, 2026, with results to be announced on January 19, 2026.
This is essentially a capital infusion into an existing subsidiary using recently raised rights-issue money, with the subsidiary using a portion to clear promoter-group related-party debt. For shareholders, the key consideration is whether this related-party debt repayment at the subsidiary level is value-accretive; otherwise, the resolution is largely procedural and not expected to move the stock materially.