Postal Ballot - Scrutinizers Report
GAYAHWS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gayatri Highways Limited has successfully completed a postal ballot for three material related party transactions. Resolution 1 approves modification of Cumulative Redeemable Preference Shares terms with associate company HKR Roadways Limited and waiver of redemption premium up to Rs.150 Crores. Resolutions 2 and 3 approve loan transactions of up to Rs.50 Crores each with subsidiary companies Gayatri Jhansi Roadways Limited and Gayatri Lalitpur Roadways Limited. All three ordinary resolutions passed with overwhelming shareholder approval (approximately 99.9% in favor). Promoter group held 42.06% stake and voted 100% in favor. Public non-institutional shareholders showed some dissent with around 11-12% voting against.
The company has secured shareholder approval for related party transactions totaling Rs.250 Crores. This indicates strong promoter support and enables the company to proceed with financing arrangements with its subsidiary and associate companies. The minority shareholder dissent suggests some investors have concerns about the related party nature of these transactions.