Notice of Postal Ballot
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Lykis Limited has issued a Postal Ballot Notice dated September 18, 2025, seeking shareholder approval through e-voting (from September 21 to October 20, 2025) for two key resolutions. The first is an Ordinary Resolution to approve a Material Related Party Transaction with its wholly owned subsidiary Lykis Exports LLC (engaged in merchant export trading), involving financial support/guarantee of up to ₹90 crore during FY 2025-26 to meet working capital needs; this represents about 29.86% of consolidated turnover and 24.02% of standalone turnover. Funding will come from internal resources, bank borrowings of ₹15 crore, and a ₹30 crore loan from director Mr. Nadir Dhrolia, with a 1-year tenure at 8% interest. The second is a Special Resolution to raise the company's investment, loan, and guarantee limit under Section 186 of the Companies Act, 2013, to ₹90 crore over and above statutory thresholds, to allow greater financial flexibility.
Shareholders are being asked to greenlight a sizeable financial commitment (₹90 crore) to the company's own export-focused subsidiary, which is a normal intra-group funding move but worth monitoring for related-party governance; investors with email IDs registered should vote before October 20, 2025, and related parties cannot vote on the first resolution.