Scrutinizer''s Report on passing of Resolution by means of Postal Ballot
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SNL Bearings Ltd received shareholder approval through a Postal Ballot for material related party transactions with its holding company, NRB Bearings Limited, for FY 2025-26. The transactions involve buying and selling raw materials, components, consumables, bushes, finished goods, machinery, toolings, fixed assets, and services, capped at Rs. 35 crore, to be carried out at arm's length and in the ordinary course of business. Promoter votes (NRB Bearings and Mrs. Harshbeena Zaveri) were excluded since they are interested parties, and among non-promoter votes polled (17,468 shares from public non-institutions), 99.83% voted in favour and only 0.17% against. The resolution was declared passed with the requisite majority. Mr. Upendra C Shukla, Practising Company Secretary, served as the Scrutinizer.
This is a routine compliance requirement and was effectively a formality since NRB Bearings is the holding company. The near-unanimous approval from public shareholders (99.83%) shows no shareholder dissent, allowing the company to continue its normal business dealings with its parent up to Rs. 35 crore during FY 2025-26 with no governance overhang.