Postal ballot seeks approval for promoter loan of up to Rs 100 crore
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Members can vote electronically from 9:00 am on October 27 to 5:00 pm on November 25, 2026; results are due by November 27. The special resolution seeks approval for promoter and Managing Director Sachidanand H. Upadhyay to provide an interest-free unsecured loan of up to Rs 100 crore for working capital and expansion. The loan may be converted wholly or partly into fully paid shares at a price set under applicable rules.
Approval offers up to Rs 100 crore of interest-free funding. If converted to equity, the promoter may gain stake and dilute current holders.