Sundaram Finance Holdings Limited has informed the Exchange regarding Proceedings of Postal Ballot along with a copy of minutes.
TSFINV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
TSF Investments Limited has announced the results of a postal ballot conducted through e-voting, with voting held from August 30 to September 28, 2025. The single ordinary resolution sought shareholders' approval for a material related party transaction involving the disinvestment of the company's entire stake of 3,90,00,000 equity shares (Rs. 10 each) in Sundaram Composite Structures Private Limited to Brakes India Private Limited for a total consideration of Rs. 24.64 crores. Out of 494 shareholders who participated (representing 3,45,44,005 shares, or 15.55% of paid-up equity capital), 99.978% voted in favor of the resolution, with only 30 shareholders (7,772 shares) voting against. The resolution was declared passed with overwhelming majority by Chairman Harsha Viji on September 29, 2025.
The disinvestment proceeds of Rs. 24.64 crores will be received from Brakes India Private Limited, a related party, signaling a portfolio restructuring move. Shareholders have strongly endorsed the transaction, and the company can now proceed with completion of the divestment, which may free up capital for redeployment.