Sical Logistics Limited has informed the exchange regarding the notice of postal ballot.
SICALLOG · price
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Awaiting price reaction for this filing.
Sical Logistics has sent a postal ballot notice to shareholders with four resolutions for voting via remote e-voting from March 12, 2026 to April 10, 2026. Two resolutions relate to material related party transactions: one involves a Rs. 20 crore corporate guarantee for credit facilities availed by step-down subsidiary Sical Multimodal and Rail Transport Limited (SMART) from CSB Bank, and another involves a Rs. 25 crore facility from HDFC Bank where fellow subsidiary Pristine Magadh Infrastructure will provide mortgage on its Bihar property and corporate guarantee. A third resolution seeks approval to create a first pari-passu mortgage charge on SMART's land in Tamil Nadu as security for the Rs. 20 crore CSB Bank facility. The fourth resolution seeks shareholder approval to appoint Mr. Sharad Kumar (DIN: 11286544) as Independent Director for a 3-year term (January 14, 2026 to January 13, 2029) with annual remuneration of up to Rs. 12 lakh. Results will be declared within 2 working days after e-voting closes on April 10, 2026.
Shareholders need to vote on corporate guarantees worth Rs. 45 crore total being extended to subsidiaries and fellow subsidiaries, which represents contingent liabilities for the parent company. The director appointment fills an existing independent director position. These are governance/compliance items rather than operational changes, so limited direct impact on stock price is expected, though rejection of related party resolutions could affect the subsidiaries' ability to access credit facilities.