Notice of Postal Ballot
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Awaiting price reaction for this filing.
Laxmipati Engineering Works Ltd has issued a Postal Ballot notice seeking shareholder approval (via remote e-voting) for a Material Related Party Transaction with Laxmipati Apparel Private Limited. The proposed deal involves availing or rendering job work and fabrication services for a value of up to ₹25 Crores per annum, an increase from the earlier approved limit of ₹5 Crores, for the period April 1, 2026 to March 31, 2027. The transaction size represents about 49.90% of the company's annual consolidated turnover, making it a material RPT under SEBI rules. Three directors—Rakesh Govindprasad Sarawagi, Sanjaykumar Govindprasad Sarawagi, and Manoj G Sarawagi—are common between both companies and hold 0.01% in the related party. No prior transactions or defaults have been recorded with this related party. E-voting runs from March 2, 2026 (9:00 AM) to March 31, 2026 (5:00 PM), with results to be declared by April 2, 2026.
Minority shareholders should weigh the merits of a related-party deal that is nearly half the company's turnover, though management has stated it is at arm's length and in the ordinary course of business. Related parties will abstain from voting, so the outcome depends on independent shareholder participation.