Tamilnadu PetroProducts Limited has informed the Exchange regarding Notice of Postal Ballot
TNPETRO · price
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Tamilnadu PetroProducts Limited has issued a Postal Ballot notice dated March 10, 2026, seeking shareholder approval for two ordinary resolutions. The first is the appointment of Ms. Sandhya Venugopal Sharma, IAS (DIN: 08445015), Chairperson of TIDCO (a promoter), as a Director of the company, not liable to retire by rotation. She was initially appointed as Additional Director on January 14, 2026. The second resolution seeks prior approval for material related party transactions with Greenstar Fertilizers Limited for FY 2026-27, aggregating up to ₹368.70 Crore (excluding taxes), which represents 19.88% of the company's consolidated turnover. E-voting begins March 13, 2026, and ends April 11, 2026, with results expected by April 14, 2026.
The director appointment is a routine promoter-nomination process and unlikely to materially impact the stock. The RPT approval, while significant in value (nearly 20% of turnover), is described as arm's-length and in the ordinary course of business, and is being taken up as a good governance practice since the two entities share common directorship.