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JMJ Fintech Limited is seeking shareholder approval through a postal ballot for a material related party transaction involving a loan of Rs. 10 crore to JMJ Finance Limited (JFL), a related NBFC. The transaction covers FY 2025-26 and FY 2026-27 and is valued at 58.32% of the company's FY 2024-25 turnover, making it a material related party transaction under SEBI rules. The related party JFL reported a turnover of Rs. 43.03 crore, net profit of Rs. 3.06 crore, and net worth of Rs. 32.24 crore in FY 2024-25. Chairman Johny Madathumpady Lonappan holds 23.07% in JFL, and the transaction was reviewed and approved by the Audit Committee on February 11, 2026. E-voting runs from February 19, 2026 to March 20, 2026, with results to be declared by March 23, 2026. Related parties are barred from voting on this resolution.
The transaction is significant at over half the company's turnover and represents lending activity within its ordinary course of business, generating interest income. Since promoters/directors have interest in the related party and related parties cannot vote, approval depends on minority/public shareholders. Outcome of the postal ballot will determine whether the company can deploy Rs. 10 crore with the related NBFC over the next two financial years.