Postal Ballot Notice - Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 pertaining to slump sale of the Business Undertaking under Section 180(1)(a) of the Companies Act, ....
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On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.3 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Switching Technologies Gunther Ltd has sent a Postal Ballot Notice seeking shareholder approval to sell its entire Business Undertaking as a going concern to Canolli Manufacturing Private Limited (a related party) for a lump-sum consideration of ₹4.20 crore, inclusive of taxes. An independent valuation pegged the fair value at ₹4.18 crore. The transaction value equals 54.41% of the company's FY24-25 revenue from operations of ₹7.72 crore. The company cites severe financial distress — net worth fully eroded, accumulated losses of ₹1,526.19 lakhs, net loss of ₹66.90 million in FY25, current liabilities exceeding current assets by ₹724.65 lakhs, and a qualified auditor report on going concern. E-voting runs from October 8, 2025 to November 6, 2025. No competitive bidding process was carried out.
This is a distress sale of the company's core operations to a related party at a marginal premium to valuation. Shareholders should note the going-concern qualification, fully eroded net worth, and the lack of an open-bid process. If approved, the listed entity will effectively cease its operating business and hold only the sale proceeds, which raises questions about its future direction and any residual value for shareholders.