Corrigendum to the Postal Ballot Notice
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LKP Finance Limited has issued a corrigendum dated 25th April 2025 to its Postal Ballot Notice of 3rd April 2025, specifically amending Item No. 9. The amendment seeks shareholder approval and ratification for material related party transactions with Mufin Green Finance Limited, a fellow subsidiary. The proposed transactions include purchase of loans/exposure, providing loans and advances (short/long term, secured/unsecured), inter-corporate deposits, availing/rendering of services, and investments, with an aggregate cap of Rs. 500 crore for FY 2025-26. The transaction value exceeds 100% of the company's annual turnover for FY 2024-25, making it a material RPT under SEBI Listing Regulations. A prior loan of Rs. 40 crore (45.48% of consolidated turnover) was given to Mufin Green Finance during FY 2024-25, which is being ratified. Promoter group entities will not vote on this resolution.
Shareholders are being asked to approve very large related party transactions that exceed the company's own annual turnover, indicating significant inter-group financial activity. While framed as arm's length and in ordinary course of business, the scale of these transactions relative to the company's size may raise governance concerns for minority shareholders.