Nila Spaces Limited has informed the Exchange regarding Notice of Postal Ballot
NILASPACES · price
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Nila Spaces Limited is seeking shareholder approval via postal ballot for material related party transactions with 6 entities for FY 2026-27. The transactions involve: (1) Nila Urban Living Private Limited (90% subsidiary developing PRANA residential project at GIFT City), (2) Romanovia Industrial Park Private Limited, (3) Kent Residential & Industrial Park LLP, (4) Nila Infrastructures Limited, (5) Plouton Sanctum Private Limited (GIFT City entity), and (6) Mr. Deep S. Vadodaria (Chairman & Whole Time Director) and his relatives. Transactions may exceed 10% of annual consolidated turnover, requiring shareholder approval under SEBI regulations. Mr. Deep S. Vadodaria provides personal guarantees for company bank loans. The Audit Committee has reviewed and approved all transactions. E-voting period runs from 11 April 2026 to 10 May 2026. Related parties cannot vote on these resolutions.
Shareholders are being asked to approve transactions that may cross material thresholds with group entities and the Chairman. While the company cites business synergies and operational efficiency, these RPTs require scrutiny as they involve promoter-related parties. If approved, this enables continued financial assistance and business dealings with affiliated entities for FY 2026-27.