Authorization to ''Amulet Technologies Limited'', Wholly Owned Subsidiary Company to Avail Loans from Mr. Sanjeev Goel, Managing Director of the Company, subject to approval of members.
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The Board of Directors of Intec Capital Ltd, at its meeting held on April 21, 2025, authorized its wholly owned subsidiary Amulet Technologies Limited to avail loans from Mr. Sanjeev Goel, the Managing Director of the company. Since this involves a related party transaction, shareholder approval is required, and the company will conduct a postal ballot process for the same. The cut-off date for shareholders to cast their electronic votes has been fixed as April 25, 2025. Mr. Priyank Kukreja, Practicing Company Secretary, has been appointed as the scrutinizer for the postal ballot process. The board meeting lasted only 10 minutes, from 3:35 PM to 3:45 PM IST.
This is a related party transaction where the company's Managing Director is personally extending loans to a wholly owned subsidiary, requiring mandatory shareholder approval via postal ballot. Shareholders should review the terms of the loan carefully before voting, as related party lending arrangements can affect minority shareholder interests and disclosure norms.