We enclose a copy of the Postal Ballot Notice dated 29th May, 2026, along with the Statement pursuant to the applicable provisions of the Companies Act, 2013 read with the SEBI (Listing ....
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K G Denim Limited has issued a Postal Ballot Notice dated 29th May 2026 seeking shareholder approval for a Special Resolution to sell or dispose of 19.35 acres of non-factory vacant land located at Karamadai, Coimbatore District, Tamil Nadu. The sale is part of a debt restructuring scheme with the company's bankers, with the proceeds intended to pay off long/short-term debts and meet working capital requirements. The land will be sold on an 'as is where is' basis to non-related party buyers for consideration not less than market value. E-voting will be conducted via CDSL from June 10, 2026 to July 9, 2026, and the resolution requires approval from a majority of public shareholders. The Scrutinizer is Sri. M.D. Selvaraj of MDS & Associates LLP.
If approved, the asset sale could provide cash to reduce the company's debt burden, potentially improving its financial position. However, it also signals that the company is under debt pressure and needs to liquidate non-core assets. Shareholders should evaluate whether the deleveraging is in their interest, and the outcome depends on the sale price achieved for the land.