Proceedings of Postal Ballot.
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Lykis Limited conducted a postal ballot via remote e-voting, with results declared on October 21, 2025. Two resolutions were put to shareholders: (1) an Ordinary Resolution to approve a Material Related Party Transaction with Lykis Exports LLC, and (2) a Special Resolution to allow investments, loans, guarantees and security beyond the limits prescribed under Section 186 of the Companies Act, 2013. The Postal Ballot Notice was dispatched to shareholders on September 20, 2025, with NSDL serving as the e-voting service provider. The notice was also advertised in Financial Express and Prathakal newspapers on September 21, 2025. Signed by Managing Director Nadir Dhrolia.
Shareholders were asked to clear a related party transaction with Lykis Exports LLC (a group entity) and expand the company's borrowing/investment limits. Approval of both resolutions gives the company greater financial flexibility but the related party transaction warrants close scrutiny given potential conflict-of-interest concerns.