Postal ballot Notice - disclosure under Regulation 30 SEBI (LODR) Regulations 2015
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SNL Bearings, a subsidiary of NRB Bearings (which holds 73.45% of SNL's equity), has sent a Postal Ballot Notice to shareholders seeking approval for material related party transactions with its holding company for FY 2025-26. The transactions cover purchase and sale of raw materials, components, consumables, bushes, finished goods, machinery, toolings, fixed assets, and services, with a maximum aggregate value of Rs. 35 Crores (Thirty-Five Crores) across one or more tranches. All transactions will be carried out at arm's length and in the ordinary course of business, per SEBI Listing Regulation 23. Shareholders can vote electronically via CDSL between May 10, 2025 and June 8, 2025. Two directors — Ms. Harshbeena Zaveri (Vice Chairman & MD of NRB and Chairperson of SNL) and Mr. Satish Rangani (Non-Executive Director in both companies) — are deemed interested parties in this transaction.
This is a procedural shareholder approval required under SEBI rules for ongoing transactions with the parent company. Approval is highly likely given NRB's 73.45% majority stake, so the stock price is unlikely to be materially affected. Minor shareholders should note that the related party transactions are recurring in nature, supporting the subsidiary's manufacturing operations and capacity utilization.