Newspaper Publication for Notice of Postal Ballot
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Jyoti Ltd has published a Postal Ballot Notice (dated 31st March 2025) in The Indian Express (English) and Financial Express (Gujarati) on 16th April 2025, informing shareholders about a Special Resolution. The resolution seeks ratification of the issuance and allotment of equity shares on a preferential basis to Rare Asset Reconstruction Pvt. Ltd. (now Rare Asset Reconstruction Limited). Shareholders can vote via remote e-voting through CDSL from 18th April 2025 (9:00 AM) to 17th May 2025 (5:00 PM), with the cut-off date set as 11th April 2025. Results will be announced on or before 19th May 2025. Mr. Ravi Kapoor has been appointed as the Scrutinizer for the postal ballot process.
Shareholders should review the preferential allotment to Rare Asset Reconstruction, which is typically an asset reconstruction company (ARC), suggesting this relates to past debt restructuring. Existing equity holders may face dilution depending on the size of the preferential issue, and their vote will determine whether this past allotment is formally approved.