Notice of Postal Ballot
Awaiting price reaction for this filing.
SJ Corporation Ltd has issued a Postal Ballot Notice dated May 30, 2026, seeking shareholder approval via remote e-voting from June 4 to July 3, 2026 (cut-off date May 29, 2026) for 12 resolutions. Key proposals include: (1) shifting the registered office from Maharashtra to Gujarat, (2) appointing Mr. Pintu Kanjibhai Kalavadia as Managing Director for 5 years, (3) re-designating Mr. Deepak Upadhyay from MD to Executive Director, (4-5) regularizing two new Executive Directors and two Independent Directors (including one Independent Woman Director). The company is also seeking approval to raise overall borrowing limits under Section 180(1)(c) to ₹100 crore, create charges on assets up to ₹100 crore, and authorize loans/investments under Sections 185 and 186 up to ₹100 crore each. Additionally, it seeks approval for material related party transactions of up to ₹50 crore each with 10 related parties (including Fishfa group companies, directors, and their relatives) for FY 2026-27, and approval to sell a land parcel at Kosmada, Surat for ₹1.40 crore.
This is largely a governance and housekeeping exercise — restructuring the board, relocating the registered office to Gujarat (closer to promoters), and seeking routine borrowing/RPT approvals. Shareholders should pay attention to the heavy related party transaction slate (up to ₹500 crore aggregate with promoter-linked entities) and the asset sale, as these could affect minority shareholder interests if not voted carefully.