Postal Ballot Notice - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
Nirav Commercials Ltd has issued a Postal Ballot Notice seeking shareholder approval to sell its aluminium grills, doors and windows business operated under the 'Elesar Focchi' brand to Hind Aluminium Industries Ltd on a slump sale / going concern basis for a lump sum consideration of up to Rs. 1.25 Crores. Since Hind Aluminium is a Related Party (common promoters and Chairman — Mr. Lalit Kumar Daga and Managing Director Mr. Raghav Daga), the deal is classified as a Material Related Party Transaction exceeding 10% of annual consolidated turnover. Two resolutions are tabled: a Special Resolution under Section 180(1)(a) for sale of undertaking, and an Ordinary Resolution under Section 188 / SEBI Regulation 23 for the RPT. Valuation was carried out by Archana Parikh & Co using the Discounted Cash Flow method. E-voting runs from February 5, 2026 to March 6, 2026, with results declared on March 9, 2026.
The company is divesting its main operating business to a related entity at a modest consideration, leaving the company essentially as a cash shell to redeploy funds into new strategic opportunities. Shareholders should weigh whether the Rs. 1.25 Crore price reflects fair value for the entire Elesar Focchi undertaking, given that related parties cannot vote on this resolution.