Intimation of Postal Ballot Notice dated 11th May, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vashishtha Luxury Fashion Limited is seeking shareholder approval via postal ballot (e-voting from May 16 to June 14, 2026) for four ordinary resolutions. The key items are: (1) Material Related Party Transactions with Vashishtha Embroideries Private Limited (Material Subsidiary) capped at Rs 5 Crores from April 15, 2026 to March 31, 2027; (2) Material Related Party Transactions with Anas Embroideries (Sole Proprietorship of Promoter) capped at Rs 10 Crores for the same period; (3) Revision in Managing Director Mr. Ravindra Dhareshivkar's remuneration to max Rs 40 lakhs per annum effective April 1, 2026; (4) Revision in Executive Director Mr. Mustak Odiya's remuneration to max Rs 40 lakhs per annum. The combined related party transactions represent 47.01% of the company's annual consolidated turnover, making them material under SEBI regulations.
Shareholders should scrutinize these related party transactions carefully as they involve significant amounts with a subsidiary and promoter-linked entity. The transactions are stated to be at arm's length and in ordinary course of business, but the large size relative to turnover warrants close attention. Approval of higher director remuneration increases fixed costs.