Manali Petrochemicals amended its postal ballot notice to seek shareholder approval for material related party transactions with Wilson International Trading Private Limited, Singapore. The company's Board passed the resolution by circulation on June 25, 2026, adding this item to the agenda under Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This amendment follows an earlier intimation dated May 21, 2026.

The revised postal ballot now includes one ordinary resolution specifically for the approval of material related party transactions and material modifications with the Singapore-based entity. Additionally, the notice contains three special resolutions concerning governance and management compensation.

Shareholders will vote on the reappointment of Mr. T K Arun (DIN: 02163427) as an Independent Director for a second term. The ballot also seeks approval for revising the remuneration of Mr. R Chandrasekar (DIN: 06374821), Managing Director & CEO of MPL Group, and Mr. G R Sridhar (DIN: 10596912), Whole-time Director (Head of Plant Operations). Both remuneration revisions are effective from April 1, 2026.

Resolutions for Shareholder Approval

The company has structured the postal ballot to address specific regulatory and administrative requirements. The inclusion of the related party transaction indicates a significant business arrangement requiring shareholder consent under listing regulations.

The company will dispatch the revised postal ballot notice to shareholders in due course. The filing was submitted to BSE Limited and National Stock Exchange of India Limited on June 26, 2026.

Manali Petrochemicals Limited has secured an interim stay from the Division Bench of the Hon'ble Madras High Court against an order dated March 25, 2026. The stay, granted on June 15, 2026, is subject to compliance with certain conditions as directed by the Court. This legal development follows the company's filing of a Writ Appeal (WA No. 1538 of 2026) challenging the earlier order passed in W.P. No. 5850 of 2016.

The company informed the exchanges that the order was received on June 23, 2026. The matter has been posted for further hearing as the legal proceedings continue. The company's legal counsel is actively assessing the legal and financial implications of the order and advising on subsequent steps.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The relevant details are covered in accordance with SEBI circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Legal Proceedings Details

The company stated that further updates would be provided as and when material developments occur regarding the case.