Laxmi Goldorna House Limited has informed the Exchange regarding Notice of Postal Ballot
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Laxmi Goldorna House Limited has issued a postal ballot notice dated January 6, 2026, seeking shareholder approval for two related party transactions involving borrowings/loans from its promoters. Item 1 seeks approval to borrow up to Rs. 100 crore from Mr. Jayeshkumar Chinulal Shah (Promoter and Managing Director), while Item 2 seeks approval to borrow up to Rs. 100 crore from Mrs. Rupalben Jayeshkumar Shah (Promoter and Whole-time Director), for FY2025-26. Each proposed borrowing represents about 113.88% of the company's audited consolidated annual turnover of Rs. 8,781.56 lakhs for FY2024-25, crossing SEBI's materiality threshold for related party transactions. The borrowings are intended for funding operations, capital expenditure, and future expansion, and will be at arm's length basis. E-voting will be open from January 9, 2026 to February 7, 2026, with the cut-off date being January 2, 2026.
Shareholders (excluding related parties) need to vote on these promoter lending proposals by February 7, 2026. Approval would allow the company to draw up to Rs. 200 crore in promoter funding to support its operations and growth, though heavy reliance on promoter loans signals significant external funding needs.