Pursuant to Regulation 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith Postal Ballot Notice ....
KIRANVYPAR · price
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Kiran Vyapar Limited has issued a Postal Ballot Notice to shareholders seeking approval through remote e-voting (31 May to 29 June 2025) on three ordinary resolutions. The first is approval of a material related party transaction valued at approximately Rs. 798.72 Crores, involving the merger of Placid Limited (an associate company in which Kiran Vyapar holds 29.70%) with Maharaja Shree Umaid Mills Limited under a Scheme of Amalgamation filed with NCLT Kolkata on 31 March 2025. The swap ratio is 515 equity shares of Rs. 10 each in MSUM for every 1 equity share of Rs. 100 held in Placid Limited, and the transaction represents about 704.64% of the company's annual consolidated turnover. The second resolution seeks shareholder approval to regularize the appointment of Mrs. Alka Devi Bangur (DIN: 00012894) as a Non-Executive Promoter Director, originally appointed as Additional Director from 31 March 2025. The third resolution seeks consent for appointing Mr. Shreeyash Bangur (relative of existing directors) as Group President with an annual remuneration not exceeding Rs. 1.25 Crores.
The postal ballot covers a large group restructuring that could materially change the company's investment portfolio and consolidate holdings within the Bangur Group. Shareholders should evaluate the fairness of the share swap ratio and the related party nature of the transaction, as related parties are barred from voting on Item 1. The director and executive appointments strengthen promoter family involvement in management.