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Shipwaves Online Limited has issued a Postal Ballot Notice dated 27 January 2026 to shareholders, with e-voting open from 4 February 2026 to 4 March 2026. Four special business items are up for approval: (1) permission under Section 185 of the Companies Act to give loans, guarantees or security of up to Rs. 500 crore to subsidiaries, associates, joint ventures or group entities; (2) an unsecured loan of up to Rs. 20 crore to its Dubai-based subsidiary Shipwaves Online LLC, a material related party transaction worth about 18.47% of the company's turnover; (3) material related party transactions with Shipwaves Online LLC worth up to Rs. 10 crore during FY2025-26 to FY2027-28; and (4) material related party transactions with Mukka Proteins Limited worth up to Rs. 100 crore over the same three-year period. Voting will be electronic only via CDSL, and results will be announced within two working days after e-voting closes.
Shareholders are being asked to approve a significant expansion of the company's lending and related-party dealings — particularly a Rs. 500 crore loan/guarantee headroom and Rs. 130 crore of related party transactions with its LLC subsidiary and Mukka Proteins. Investors should review the arm's-length justification and use of funds, as these resolutions effectively pre-approve substantial inter-company and related-party fund flows over the next three years.