The Peria Karamalai Tea & Produce Company Limited has informed the Exchange about Shareholders meeting
PKTEA · price
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The Peria Karamalai Tea & Produce Company (PKTEA), part of the LN Bangur Group, declared postal ballot results on July 1, 2025 for a single ordinary resolution seeking shareholder approval for material related party transactions with Maharaja Shree Umaid Mills Limited, a related party of the company. Remote e-voting ran from May 31, 2025 to June 29, 2025. Out of 3,732 shareholders on record (holding 30,95,879 shares), 39 members cast 65,255 valid votes, with 65,231 votes in favour (99.96%) and just 24 votes against (0.04%). Promoter and promoter group votes were excluded from the count as they were interested in the resolution. The scrutinizer was M/s Vinod Kothari & Company, and the resolution was declared passed with the requisite majority.
The near-unanimous approval (99.96%) gives the company the green light to proceed with material related party transactions with Maharaja Shree Umaid Mills Limited. Retail investors should note that since this involves dealings with a related party, they should monitor the terms of these transactions for fairness, though the overwhelming shareholder support signals broad comfort with the arrangement.