We hereby submit Notice of Postal Ballot dated June 12, 2025.
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iDentixweb Limited (BSE SME, Code: 544388) has issued a Postal Ballot Notice dated June 12, 2025 seeking shareholder approval for material related party transactions with its subsidiary Munim ERP Private Limited for FY 2025-26. The proposed transactions aggregate to Rs. 1,750 Lakhs, broken into Rs. 500 Lakhs for availing/rendering services including job work, Rs. 500 Lakhs for investment in equity shares, and Rs. 750 Lakhs for loans, guarantees, and securities. Munim ERP is a Surat-based accounting and GST/ERP software company. The loans, if any, will be unsecured, repayable on demand, and carry 9% p.a. interest. E-voting runs from June 16, 2025 (9:00 AM) to July 15, 2025 (5:00 PM), with the scrutinizer's report and result declaration scheduled for July 17, 2025. Promoters Mr. Priyankkumar Savani (CMD), Mr. Ankur Lakhani (WTD), and Mrs. Hiralben Lakhani are interested parties and, along with other related parties, are barred from voting on this resolution. The transactions have already been reviewed by the Audit Committee and the Board on April 16, 2025, and are stated to be at arm's length and in the ordinary course of business. The company recently listed via IPO on BSE SME with a Prospectus dated March 28, 2025.
Shareholders (excluding related parties) need to vote on this RPT approval, as the transaction values represent up to 82.48% of FY 2024-25 consolidated turnover. Approval enables iDentixweb to fund and support its subsidiary Munim ERP as outlined in its IPO objects. Since promoters and directors cannot vote, the outcome depends on institutional and non-related retail shareholders.