Notice of Postal Ballot dated 27th October, 2025 is enclosed.
THACKER · price
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Awaiting price reaction for this filing.
Thacker and Company Limited has issued a Postal Ballot notice (dated October 27, 2025) seeking shareholder approval via remote e-voting for a material related party transaction with Biodegradable Products India Limited (BPIL). BPIL is a related party because common director Mr. Arunkumar Jatia holds 45.74% of BPIL's share capital. The proposed transaction involves accepting or providing inter-corporate deposits of up to Rs. 2,000 lakhs (Rs. 20 crore), at an interest rate of 7-9% per annum, repayable on demand. The transaction is estimated at roughly 652% of Thacker's annual consolidated turnover for FY25, making it a 'material' related party transaction under SEBI rules. The company notes BPIL is currently loss-making with negative net worth but holds about 25 acres of land near Hinjewadi, Pune, with future value potential. E-voting runs from October 31 to November 29, 2025.
Shareholders should note this is a large exposure for a small company (transaction value exceeds 6x its turnover), directed at a loss-making related entity with negative net worth. Related parties will abstain from voting. Outcome of the postal ballot (November 29, 2025) could affect sentiment given the size of the exposure versus company size.