Notice of Postal Ballot
RMC · price
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RMC Switchgears has issued a postal ballot notice to shareholders for three resolutions, with remote e-voting open from November 15, 2025 to December 14, 2025 and results expected by December 16, 2025. The first special resolution seeks shareholder approval under Section 186 of the Companies Act to authorize the Board to give loans, guarantees, securities, or make investments up to an aggregate limit of Rs. 800 crores, exceeding the standard statutory thresholds. The second special resolution under Section 185 seeks approval to advance loans and provide guarantees to six subsidiary companies totaling up to Rs. 500 crores — Rs. 150 crores to RMC Green Energy, Rs. 100 crores to RMC Solar Park, Rs. 75 crores each to RMC Solar One and RMC Solar Two, and Rs. 50 crores each to RMC Solar Three and RMC Solar Five. The third ordinary resolution seeks approval for material related party transactions with the same six subsidiaries, as these transactions are expected to cross SEBI's materiality thresholds for related party transactions.
Shareholders are being asked to grant the company wide financial flexibility to fund and support its growing portfolio of solar and green energy subsidiaries, signaling significant capital deployment plans in the renewable energy segment. The large related party transaction limits indicate substantial inter-group financial activity, which investors should monitor for capital allocation efficiency and arm's-length pricing. Directors Ashok Kumar Agarwal, Ankit Agarwal, Akhilesh Kumar Jain, and Neha Agarwal are interested in Items 2 and 3 as directors in the subsidiaries, and related parties cannot vote on Item 3.