Notice of 1st Extraordinary General Meeting of FY 2025-26 to be held on April 25, 2025
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Ratnabhumi Developers has called an Extraordinary General Meeting on April 25, 2025 at 11:00 AM via video conferencing. The only item on the agenda is a special resolution seeking shareholder approval to enter into material related party transactions with Ratnabhumi Buildspace LLP, involving construction contracts valued up to Rs. 400 crore. Mr. Kaivan Shah, the company's Chairman and Managing Director, is a designated partner in Ratnabhumi Buildspace LLP, making this a related party deal that requires shareholder approval under SEBI Listing Regulations. The threshold for material related party transactions is now the lower of Rs. 1,000 crore or 10% of annual consolidated turnover, which this Rs. 400 crore deal falls under. Remote e-voting will run from April 22 to April 24, 2025, with April 18 as the cut-off date for eligibility.
Shareholders will need to vote on whether to approve a Rs. 400 crore construction contract with an entity linked to the company's Managing Director. The outcome will affect the company's ability to execute ongoing or new real estate projects through this related party. This is routine compliance seeking prior shareholder consent but does signal significant business volume flowing through a promoter-connected entity.