Postal Ballot Notice dated March 29, 2025 is attached herewith
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jhaveri Credits & Capital Ltd has sent a Postal Ballot Notice to shareholders for four special business items to be approved through remote e-voting. Items 1 and 3 seek approval for material related party transactions with U R Energy (India) Private Limited (URE) up to ₹10 crore and with Praveg Limited up to ₹45 crore respectively for FY 2025-26. Items 2 and 4 are corresponding Section 185 approvals for advancing loans, guarantees, or securities to URE (up to ₹10 crore) and Praveg (up to ₹45 crore). Both URE and Praveg are related parties because promoter-director Mr. Vishnukumar Patel and promoter-group member Ms. Bijal Kiran Parikh have interests in them. The RPT limit with URE represents about 38.17% of the company's FY 2023-24 consolidated turnover. E-voting runs from April 3, 2025 (9:00 AM IST) to May 2, 2025 (5:00 PM IST), with results to be announced by May 5, 2025. Interested shareholders are not eligible to vote on these resolutions.
These are routine RPT and inter-corporate funding approvals typical for a small NBFC, but they lock in significant exposure (combined up to ₹55 crore) with promoter-linked entities. Minority shareholders should monitor cumulative related-party exposure, interest rate terms, and repayment conditions, as the company is deploying internal accruals rather than borrowed funds for these transactions.