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Awaiting price reaction for this filing.
Shree Krishna Paper Mills & Industries has issued a postal ballot notice for shareholder approval via remote e-voting (Dec 17, 2025 to Jan 15, 2026). Key items include: (1) appointment of Mrs. Devika Ohri as an Independent Director for a 5-year term (Nov 1, 2025 to Oct 31, 2030); (2) increasing the company's borrowing limit from Rs. 175 crores to Rs. 500 crores under Section 180(1)(c); (3) approval to sell, lease, or mortgage company assets up to Rs. 500 crores under Section 180(1)(a); and (4) related party transactions with Busimatix Global LLP and Gopala Sales Private Limited, both linked to Managing Director Mr. Naynesh Pasari and his family, for paper trading up to Rs. 20 crores per annum for 10 years. Results will be announced on or before January 17, 2026.
Shareholders are being asked to approve a significant tripling of the borrowing ceiling (from Rs. 175 cr to Rs. 500 cr) and related party deals with entities connected to the MD's family, which warrants scrutiny on governance and conflict-of-interest grounds. The new independent director adds board strength, but the borrowing expansion suggests the company may be gearing up for higher leverage or major capital needs.