Laxmipati Engineering Works Limited has successfully concluded its postal ballot process for approving a material related party transaction. The company announced the voting results on April 01, 2026, confirming that the ordinary resolution was passed with the requisite majority through remote e-voting.

Voting Process and Timeline

The postal ballot was conducted exclusively through e-voting in compliance with MCA circulars and SEBI regulations. The company dispatched the postal ballot notice on February 28, 2026, via email to shareholders who had registered their email addresses. The e-voting period commenced on March 02, 2026 at 9.00 a.m. and concluded on March 31, 2026 at 5.00 p.m.

Voting Results and Participation

The voting results demonstrated strong support for the material related party transaction approval. The participation was limited to public non-institutional shareholders, as promoter and promoter group members abstained from voting despite holding significant shareholding.

Resolution Details and Compliance

The resolution sought approval for a material related party transaction under the ordinary resolution category. Since promoters and promoter group members were interested parties in the agenda, they abstained from participating in the voting process. A total of 12 members from the public non-institutional category participated in the e-voting, casting 407500 votes unanimously in favor of the resolution.

Scrutinizer's Report and Declaration

CS Ranjit Binod Kejriwal, the appointed scrutinizer, conducted the vote counting process on April 01, 2026 at 10.27 a.m. in the presence of two independent witnesses - Mr. Pioush Tiwari and Ms. Radhika Chandak. The scrutinizer confirmed that the ordinary resolution was passed with the requisite majority as per the provisions of the Companies Act, 2013.

The company published advertisements in "Free Press Gujarat" (English) and "Lokmitra" (Gujarati) newspapers on March 01, 2026, informing shareholders about the completion of postal ballot notice dispatch and e-voting procedures. The entire process was conducted through Central Depository Services (India) Limited's e-voting platform at www.evotingindia.com , ensuring transparency and compliance with regulatory requirements.

Laxmipati Engineering Works Limited has announced a postal ballot process to seek shareholder approval for a material related party transaction. The company issued the postal ballot notice dated February 24, 2026, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Proposed Related Party Transaction

The company seeks approval for entering into material related party transactions with Laxmipati Apparel Private Limited (CIN: U13999GJ2022PTC134493). The proposed arrangement involves availing or rendering job work services relating to engineering work and fabrication as per business requirements.

E-Voting Schedule and Process

The company has established a comprehensive timeline for the postal ballot process, with all voting to be conducted through remote e-voting facility provided by Central Depository Services Limited (CDSL).

Transaction Details and Rationale

The proposed transaction represents 49.90% of the company's annual consolidated turnover for the immediately preceding financial year. The management has justified the transaction as being in the ordinary course of business and at arm's length basis. The arrangement is expected to facilitate smooth business operations, ensure consistent supply of services, and contribute to stable revenue generation for both entities.

The Audit Committee, comprising independent directors, has reviewed and approved the transaction after considering all relevant details including material terms and pricing basis. The transaction limit has been enhanced from the previously approved Rs. 5 crores to Rs. 25 crores, subject to shareholder approval.

Scrutinizer and Compliance

The Board of Directors has appointed Mr. Ranjit Binod Kejriwal, Practicing Company Secretary (Membership No. 6116, CP No. 5985), as the Scrutinizer to conduct the postal ballot process in a fair and transparent manner. The company has engaged Bigshare Services Private Limited as its Registrar and Share Transfer Agent.

In compliance with MCA circulars, the postal ballot notice is being sent only through electronic mode to shareholders whose email addresses are registered with the company's RTA or depositories. The notice contains procedures for shareholders to register their email addresses if not already done.

Voting Rights and Restrictions

Voting rights will be determined based on shareholdings as on the cut-off date of February 25, 2026. All related parties of the company, whether or not party to the proposed transaction, shall abstain from voting on the resolution as per SEBI Listing Regulations.

The resolution, if approved by the requisite majority, shall be deemed to have been passed as an Ordinary Resolution at a General Meeting on the last date of e-voting, i.e., March 31, 2026.

Source: None/Company/INE920P01019/1bc653dd-e3a3-4f26-8a75-5f6609bf3a83.pdf