Please find attached the Postal Ballot Notice dated January 09, 2026, together with the explanatory statement seeking approval from the shareholder by way of Special/Ordinary Resolution ....
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Satchmo Holdings has issued a Postal Ballot Notice dated January 9, 2026 seeking shareholder approval for three resolutions. Resolution 1 seeks re-appointment of Mr. Nitesh Shetty (Promoter, holding 44.76% stake) as Chairman & Managing Director for one year (Dec 15, 2025 to Dec 14, 2026) with a basic salary of Rs. 1.5 crore per annum plus perquisites. Resolution 2 seeks re-appointment of Ms. Gayathri MN as Independent Women Director for a second 5-year term until January 7, 2031. Resolution 3 is an ordinary resolution to approve existing and new material related party transactions for FY2025-26. The disclosure highlights that the company has negative net worth, declining turnover (from Rs. 170.23 cr in FY23 to Rs. 5.30 cr in FY25), is exiting residential real estate, and is venturing into food/catering, facility management and warehousing. E-voting runs from January 12 to February 10, 2026.
Shareholders should note the MD's pay (Rs. 1.5 cr annually) is being sought despite losses and negative net worth, justified as below industry standard and pending NOC from lenders. Re-appointment of the promoter as MD signals continuity in turnaround efforts but related party transaction approval and weak financials warrant careful review before voting.