Please Find Attached herewith Postal Ballot Dated 28th January 2026
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Swashthik Plascon Ltd has issued a postal ballot notice dated January 28, 2026, seeking shareholder approval through remote e-voting for two resolutions. The first is an ordinary resolution to approve a related party transaction — a lease arrangement with M/s Swashthik Poliemers, a partnership firm in which the company holds a 99% stake. The second is a special resolution under Section 180(1)(a) of the Companies Act, 2013, to lease the company's plant and machinery (book value Rs. 15.21 crore) and building/transformers (book value Rs. 6.62 crore). Total monthly lease rent is Rs. 18 lakh (Rs. 13 lakh for plant and machinery plus Rs. 5 lakh for building/transformers), with proceeds earmarked for working capital and general corporate purposes. E-voting runs from February 7, 2026 to March 8, 2026, and results will be declared on or before March 8, 2026.
This is a sizeable related party transaction that effectively routes the use of the company's prime industrial land assets (held via its 99% partner firm) to generate steady monthly rental income of Rs. 18 lakh. Related parties will abstain from voting, so the outcome rests on independent shareholders. Approval will lock in a long-term asset utilisation arrangement, while rejection could disrupt the company's operational and working capital plans.