The Peria Karamalai Tea & Produce Company Limited has informed the Exchange regarding Notice of Postal Ballot
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The Peria Karamalai Tea & Produce Company has issued a postal ballot notice to shareholders seeking approval for material related party transactions worth approximately Rs. 8.91 crores with LNB Renewable Energy Limited (LNBREL), a promoter group company. The transaction covers EPC services and procurement of solar panels, balance-of-system equipment, and civil works for setting up a 1.8 MW (AC) / 2 MW (DC) Solar PV Power Project at Madurai, Tamil Nadu, for captive use. E-voting is open from February 21, 2026 (9:00 AM) to March 22, 2026 (5:00 PM) via CDSL, with the cut-off date set at February 13, 2026. The proposed transaction equals 17.30% of the company's annual consolidated turnover, crossing SEBI's materiality threshold for related party transactions. Director Mr. Lakshmi Niwas Bangur is interested in the resolution; the company states the terms are at arm's length and in the ordinary course of business, with M/s Vinod Kothari & Company appointed as scrutinizer.
This is a governance step required by SEBI rules before the company can proceed with its solar power expansion project. Shareholders should evaluate whether the Rs. 8.75 crore EPC contract pricing is competitive since no bidding process was used and the counterparty is a promoter group company; voting closes on March 22, 2026.