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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
SNL Bearings shareholders approved, via postal ballot, a material related party transaction with its holding company NRB Bearings Limited for FY 2025-26. The transaction cap is Rs. 35 crore, covering purchase and sale of raw materials, components, consumables, bushes, finished goods, machinery, toolings, fixed assets, and services, to be done at arm's length and in the ordinary course of business. Out of 36.11 lakh total shares, 27.04 lakh votes (74.88%) were polled, with 99.9989% voting in favour and only 30 votes against. Since promoters NRB Bearings and Mrs. Harshbeena Zaveri are interested parties, their votes were excluded from the count. The scrutinizer, Mr. Upendra C Shukla, confirmed the resolution as passed.
This is a routine regulatory compliance step that allows SNL Bearings to continue its regular business dealings with its parent company. There is no negative impact on minority shareholders as the deal is on arm's length terms, and the near-unanimous approval suggests strong shareholder support.