Notice of Postal Ballot for approval of shareholders for the resolutions as mentioned in the attached notice .
Awaiting price reaction for this filing.
Harig Crankshafts Ltd has sent a postal ballot notice to shareholders for three special resolutions, with e-voting open from 9:00 AM on 16 June 2025 to 5:00 PM on 15 July 2025 and results due by 17 July 2025. The key resolution seeks to change the company's main objects from manufacturing automotive crankshafts to real estate, construction, property development, and infrastructure activities. The other two resolutions seek adoption of a new Memorandum of Association and new Articles of Association aligned with the Companies Act 2013. The company disclosed that its original crankshaft operations have been shut since FY 2011, and it is now being revived through an NCLT-approved Resolution Plan submitted by Palika Towns LLP (approved by CoC in October 2023 and NCLT Allahabad in April 2024), with shareholder approval for the plan received at an EGM on 7 December 2024.
This signals a complete pivot from the legacy crankshaft manufacturing business to real estate and construction, effectively marking the company's revival under a new resolution applicant. Shareholders should watch the ballot outcome on 17 July 2025, as passing these resolutions is a critical step for the new business to take shape and could materially change the company's future direction and valuation.