The Peria Karamalai Tea & Produce Company Limited has informed the Exchange with copy of minutes of Postal Ballot
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The Peria Karamalai Tea & Produce Company has submitted the minutes of a postal ballot conducted via remote e-voting between 21st February and 22nd March 2026, with results declared on 24th March 2026. Shareholders approved an Ordinary Resolution permitting the company to enter into material related party transactions with LNB Renewable Energy Limited (a related party) up to an aggregate value of Rs. 8.91 crores. The e-voting saw 62,941 votes cast, representing only 2.03% of the 30,95,879 outstanding shares. Of the votes polled, 58,230 (92.52%) were in favour and 4,711 (7.48%) were against. Notably, the promoter and promoter group, holding 20,36,279 shares, did not participate in the voting as they are interested in the resolution.
The approval clears the way for the company to execute related party transactions with LNB Renewable Energy Limited. However, the very low voter turnout (just 2.03%) and promoter abstention mean the result largely reflects public shareholder sentiment, with the resolution passing comfortably but without broad engagement from the shareholder base.