Postal Ballot-Scrutinizer Report
MCCHRLS-B · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mac Charles (India) Limited conducted a postal ballot through remote e-voting (CDSL platform, EVSN 251212001) from December 15, 2025 to January 13, 2026. The single resolution sought shareholder approval for Embassy Property Developments Private Limited to provide a corporate guarantee for 54,000 senior, secured, redeemable, listed, rated non-convertible debentures of face value INR 1,00,000 each, aggregating to INR 540 crores, to be issued by Mac Charles Hub Projects Private Limited (a related party). This constitutes a material related party transaction under Regulation 23(2) and 23(4) of SEBI LODR. Out of 102 folios voting (total 8,77,472 valid votes), 99.93% voted in favour and only 0.07% voted against. The scrutinizer confirmed the resolution was passed with the requisite majority.
The resolution has been passed overwhelmingly, clearing the way for the INR 540 crore debenture issuance by Mac Charles Hub Projects Pvt Ltd backed by a corporate guarantee from Embassy Property Developments Pvt Ltd. Shareholders should note this is a material related party transaction, meaning a promoter group entity is effectively guaranteeing debt raised by another group company, which has implications for the group's consolidated financial position.