J.Kumar Infraprojects Limited has informed the Exchange regarding Notice of Postal Ballot
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J.Kumar Infraprojects Limited has issued a Postal Ballot Notice seeking shareholder approval for a material related party transaction involving a corporate guarantee or security of up to ₹3,000 Crores in favour of lenders of J. Kumar-NCC Private Limited, its 49%-owned associate company. The guarantee will support financial facilities for J. Kumar-NCC's execution of a twin tunnel project (Film City Goregaon to Khindipada, Mulund). The transaction value represents about 52.69% of J. Kumar's consolidated annual turnover, classifying it as a material related party transaction under SEBI rules. E-voting will run from July 2, 2025 to July 31, 2025, with NSDL as the e-voting platform and Mr. Dhrumil Shah as the scrutinizer. Related parties are barred from voting on this resolution, which needs to be passed as a Special Resolution.
Shareholders (excluding related parties) need to vote on this Special Resolution by July 31, 2025. If approved, J. Kumar Infraprojects will be exposing itself to a guarantee of up to ₹3,000 Crores for its associate company, which is a significant contingent liability that could affect the stock if J. Kumar-NCC faces any financial difficulty.