Neueon Corporation Limited has informed the Exchange regarding Notice of Postal Ballot
Awaiting price reaction for this filing.
Neueon Corporation Limited has dispatched a Postal Ballot Notice to shareholders seeking approval through remote e-voting (via NSDL) on four ordinary resolutions. Two resolutions seek shareholder approval for the appointments of Mr. Durga Vara Prasad Bolla (Non-Executive Non-Independent Director, appointed Nov 7, 2025) and Mr. Krishnamurthy Vijayan (Chairman & Non-Executive Non-Independent Director, appointed Nov 21, 2025), as required under SEBI Listing Regulation 17(1C) within three months of board appointment. The other two resolutions seek approval for material related party transactions for FY 2025-26 and 2026-27 — both at the company level and at the level of its material subsidiaries (Neueon Global, Neueon Enterprises, and Neueon Power). The proposed RPT cap is up to ₹100 crore per related party, against the company's FY 2024-25 consolidated turnover of only ₹5.40 crore, making the transaction value approximately 1,852% of turnover per counterparty. E-voting runs from January 6, 2026 (9:00 AM) to February 5, 2026 (5:00 PM), with results to be declared on or before February 7, 2026.
Shareholders should review the RPT resolutions carefully — the proposed transaction ceiling of ₹100 crore per related party is extremely large relative to the company's ₹5.40 crore consolidated turnover, indicating the limits are enabling caps rather than committed spend. The director appointments are procedural, required to regularize board additions made in November 2025. Investors holding shares as of the January 2, 2026 cut-off date must cast votes electronically before February 5, 2026.