Postal Ballot Notice-Disclosure under Regulation 30 of the SEBI (LODR), 2015 ("Listing Regulation")
MODIS · price
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Modi's Navnirman Limited has issued a postal ballot notice seeking shareholder approval to merge its wholly-owned subsidiary, Shree Modi's Navnirman Private Limited, into itself under the fast-track route of Section 233 of the Companies Act, 2013. The Appointed Date for the merger is April 1, 2025. Because the subsidiary is fully owned by the company, no new shares will be issued and the subsidiary's shares held by the parent will stand cancelled, meaning there will be no change in Modi's Navnirman Limited's shareholding pattern after the merger. The subsidiary had total assets and liabilities of about Rs. 32.45 crore as of March 31, 2025, which will transfer to the listed entity. Remote e-voting runs from July 17, 2025 to August 15, 2025, with the cut-off date of July 11, 2025 and results expected by August 19, 2025. The merger additionally requires approval from the Regional Director (Western Region), Ministry of Corporate Affairs.
This is a routine internal restructuring with no share dilution, no share-swap, and no change in the listed company's shareholding pattern. Shareholders are only asked to vote on consolidating the subsidiary into the parent for simpler governance and lower costs, with no material impact on stock price expected.