Submission of Postal Ballot Notice
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Sobhagya Mercantile Limited has filed a Postal Ballot Notice to seek shareholder approval for material related party transactions with MKS Constro-Venture Private Limited, capped at Rs. 250 crore for FY 2025-26. The package includes sale of goods and services worth Rs. 200 crore (127.16% of annual consolidated turnover) and advancing loans of up to Rs. 50 crore (31.79% of consolidated turnover). Managing Director Shrikant Bhangdiya and his relatives are directly interested in MKS Constro-Venture. Voting will be conducted through remote e-voting via NSDL from May 21, 2025 (10:00 a.m.) to June 20, 2025 (5:00 p.m.), with results expected by June 23, 2025. Shareholder approval is required under SEBI LODR Regulation 23 because the transaction values far exceed the 10% of consolidated turnover materiality threshold.
These transactions are unusually large relative to the company's size — the sale/purchase component alone is bigger than the company's own annual turnover, signaling that significant business activity is being routed through a related entity. Shareholders should assess governance, arm's-length pricing, and the related party's creditworthiness, especially the Rs. 50 crore loan portion. Watch for the voting outcome on June 23, 2025, as rejection could disrupt business plans.