Shradha Realty Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
SHRADHA · price
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Shradha Realty Limited has disclosed the voting results of a postal ballot seeking shareholder approval for a material related party transaction with its wholly owned subsidiary, Suntech Infraestate Nagpur Private Limited. The resolution approved an increase in the aggregate loan limit from Rs. 100 crore to Rs. 150 crore, to be extended over three financial years up to FY 2027-28 for funding the construction of a commercial complex in Nagpur. Only 55 out of 6,092 eligible shareholders participated in the remote e-voting, with all 18,72,613 votes cast in favour and none against, resulting in 100% approval. Promoters did not vote as they are interested in the transaction. The loan is unsecured, carries arm's length interest rates, and represents 93.82% of the company's FY 2024-25 consolidated turnover.
Shareholders have cleared a significant inter-corporate loan to the promoter group's wholly owned subsidiary, increasing exposure to a single related-party project. While the resolution was passed unanimously by those who voted, very low shareholder participation (under 1%) may raise governance questions, though the 100% in-favour outcome is positive for management's stated funding plans.