SPML Infra Limited has informed the Exchange regarding Notice of Postal Ballot
SPMLINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SPML Infra Limited has issued a Postal Ballot Notice seeking shareholder approval for two resolutions. First, approval for related party transactions with JWIL Infra Limited up to Rs. 1500 crore for FY 2026-27, which represents 194.64% of the company's annual turnover. JWIL Infra is a related party because the son of SPML's Vice Chairman, Mr. Sushil Sethi, holds a Key Managerial Position there. Previous related party transactions were Rs. 143.44 crore in FY 2024-25 and Rs. 149.32 crore up to Q3 FY 2026. Second, approval for paying Rs. 10 lakh per annum remuneration to Mr. Tharuvai Venugopal Rangaswami as Nominee Director representing NARCL (National Asset Reconstruction Company Limited) for 3 years from FY 2026-27. All related parties must abstain from voting on the JWIL resolution. Remote e-voting runs from April 4, 2026 to May 3, 2026.
The Rs. 1500 crore related party transaction with JWIL Infra is significantly large (nearly 2x annual turnover) and will be a key watch item for minority shareholders regarding potential conflicts of interest given the family connection. The nominee director remuneration is a routine compliance matter following NARCL's role in the company's debt restructuring.