Lorenzini Apparels Limited has informed the Exchange regarding Notice of Postal Ballot
LAL · price
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Awaiting price reaction for this filing.
Lorenzini Apparels has sent a postal ballot notice to shareholders for three items: (1) Appointment of Mr. Ish Sadana (DIN: 07141836) as a Non-Executive Independent Director for 5 years effective February 14, 2026; (2) Appointment of Ms. Monam Kapoor (DIN: 09278005) as a Non-Executive Independent Director for 5 years effective February 14, 2026; and (3) Approval to sell/transfer the 'Mr Button' trademark to Mr Button Private Limited for a consideration of Rs. 34.09 Lakhs. The trademark sale is a related party transaction, as Managing Director and CFO Mr. Sandeep Jain is a director and holds 12,99,970 equity shares in Mr Button Private Limited. The transaction has been valued by an IBBI registered valuer and approved by the Audit Committee as being at arm's length. E-voting period runs from February 25, 2026 to March 26, 2026, with results to be announced by March 30, 2026.
Two new independent directors are being added to the board, which could strengthen governance oversight. The trademark sale to a related party for a modest Rs. 34.09 Lakhs is a small-value transaction but shareholders should note the direct involvement of MD/CFO Sandeep Jain in the buyer entity, warranting attention to valuation fairness and terms.