Please find enclosed herewith intimation of Postal Ballot Notice along with Explanatory Statement, seeking approval of members of the Company, by way of remote e-voting process.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jigar Cables Limited has issued a Postal Ballot Notice seeking shareholder approval on four items via remote e-voting (voting window: January 9, 2026 to February 7, 2026). Item 1 is approval for material related party transactions with Ultracab (India) Limited, capped at Rs. 200 Crores per year, including a 2% royalty/commission on basic sales for using the Ultracab brand and trademark. Item 2 is ratification of the Cost Auditor's remuneration of Rs. 35,000 plus taxes for FY ending March 31, 2026, appointed to conduct the cost audit. Item 3 proposes increasing the company's overall borrowing limit to Rs. 100 Crores under Section 180(1)(c), to fund expansion including a new unit at Gomta, Gondal for HT cables, MVCC cables, and PCC cables. Item 4 seeks approval under Section 180(1)(a) to create charges, mortgages, or hypothecation on the company's assets up to Rs. 100 Crores to secure these borrowings.
Shareholders should note the significant scale of proposed related party transactions (up to Rs. 200 Crores/year) with Ultracab, as well as a major expansion in borrowing capacity (Rs. 100 Crores) to fund a new manufacturing unit, signaling growth plans but also higher future debt and dependence on a related party for brand and operations.