Vardhman Polytex Limited has informed the Exchange regarding Notice of Postal Ballot
VARDMNPOLY · price
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Vardhman Polytex Limited has sent a Postal Ballot Notice to shareholders seeking approval (via Special Resolution) to sell, transfer, or dispose of the land, with or without structures, at its Ludhiana unit located at Focal Point, Punjab. Manufacturing operations at this unit were already discontinued in March 2025, and the company now wants to monetize the idle asset. The land sale may exceed the 20% threshold of the Ludhiana unit's undertaking value, which is why shareholder approval under Section 180(1)(a) of the Companies Act, 2013 is required. Proceeds from the sale will be used to reduce outstanding debt and strengthen the company's ongoing business operations. The e-voting period runs from March 21, 2026 to April 19, 2026, with March 13, 2026 as the cut-off date to determine eligible voters.
This is a positive step for shareholders as the company looks to unlock value from a non-operating asset and use the proceeds to pay down debt and support its remaining business. If approved, the sale could improve the company's balance sheet and reduce interest burden, though the final impact will depend on the sale price realised.