Goa Carbon Limited has informed the Exchange regarding Notice of Postal Ballot
GOACARBON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Goa Carbon Limited is seeking shareholder approval via postal ballot for material related party transactions with its Director/Promoter Mr. Shrinivas Dempo. The primary transaction involves direct borrowing of loans up to ₹150 Crores at any point in time for meeting urgent additional working capital requirements. Interest will be payable at 9.05% to 12.04% per annum. The company also seeks approval for guarantee commission at 0.55% per annum on securities/guarantee provided by Mr. Dempo for borrowings from 360 One Prime Limited up to ₹100 Crores. The transaction represents 33% of the company's annual consolidated turnover of ₹508 Crores, exceeding the 10% materiality threshold requiring shareholder approval. The company cites increased working capital needs due to raw material price volatility and supply chain disruptions in the aluminium industry. Voting period runs from 6th May 2026 to 5th June 2026.
Shareholders should note this is a significant related party transaction where the promoter is directly lending up to ₹150 Crores to fund working capital needs. While terms are stated to be at arm's length with independent benchmarking, the transaction size (33% of turnover) and promoter involvement warrant careful review before voting.