Sical Logistics Limited has submitted the Exchange a copy scrutinizers report, voting results and minutes of Postal Ballot notice dated July 04, 2025.
SICALLOG · price
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Sical Logistics Limited has disclosed the results of its postal ballot concluded on August 7, 2025. All three resolutions were passed with overwhelming shareholder approval. The first resolution (ordinary) approved a material related party transaction with Sical Multimodal and Rail Transport Limited (SMART), a step-down subsidiary, passing with 99.36% votes in favour. The second resolution (special) approved creating a mortgage on SMART's land and building at Vallur, Chennai, passing with 99.99% in favour. The third resolution (special) approved pledging 53.60% of shares in Sical Infra Assets Limited, a material subsidiary. All three resolutions relate to securing a rupee term loan facility of up to Rs. 250 crore from Aditya Birla Capital Limited and other lenders. Promoters holding 5,86,41,956 shares voted 100% in favour across all resolutions.
Shareholders have approved the creation of securities (mortgage on subsidiary's property and pledge of subsidiary shares) to facilitate a Rs. 250 crore borrowing. While the loan strengthens liquidity, the pledging of a material subsidiary's shares and mortgaging of step-down subsidiary assets introduce additional financial risk if the company faces default. Promoter support was unanimous, signalling confidence in the arrangement.