SJ Corporation shifts registered office to Gujarat
SJ Corporation Ltd announced the outcome of its postal ballot conducted from June 4 to July 3, 2026, where shareholders approved 12 resolutions with 100% of votes in favour. Key approvals include shifting the registered office from Maharashtra to Gujarat, appointing Mr. Pintu Kanjibhai Kalavadia as Managing Director, and increasing borrowing limits by ₹100 crore. The company also secured authorization for related party transactions and the sale of land in Surat for ₹1.40 crore.
*this image is generated using AI for illustrative purposes only.
SJ Corporation Ltd has received shareholder approval to shift its registered office from Maharashtra to Gujarat, alongside the regularization and appointment of its managing director and executive directors. The resolutions were passed via a postal ballot process that concluded on July 3, 2026, with the results declared on July 4, 2026.
The voting process, conducted by e-voting from June 4 to July 3, 2026, saw 39 shareholders cast 1,33,26,993 votes. All 12 special and ordinary resolutions were passed with 100% of the votes in favour, representing 30.74% of the total outstanding shares. The scrutinizer's report confirmed that the requisite majority was achieved for all items.
Key Leadership Changes
Shareholders approved the appointment of Mr. Pintu Kanjibhai Kalavadia as Managing Director for a term of five years effective from May 30, 2026. Concurrently, Mr. Deepak Bhikhalal Upadhyay was re-designated from Managing Director to Executive Director for a five-year term commencing May 31, 2026. Additionally, the Board regularized the appointments of Mr. Prashant Kanjibhai Kalavadia as Executive Director, Ms. Ekta Ankur Dholakia as Independent Woman Director, and Mr. Pragnesh Kishorbhai Sonchhatra as Independent Director, each for a five-year term ending May 29, 2031.
Financial Authorizations
The company secured approval to increase its overall borrowing limits by up to ₹100 crore over and above its paid-up capital, free reserves, and securities premium. Shareholders also authorized the creation of charges on the company's assets to secure these borrowings. Furthermore, the Board received approval to advance loans, provide guarantees, or give security up to ₹100 crore under Section 185 of the Companies Act, 2013, and to make investments, give guarantees, or provide securities up to ₹100 crore under Section 186.
Related Party Transactions and Asset Sale
Approval was granted for material related party transactions with entities such as Fishfa Rubbers Limited, Fishfa World Trade Limited, and Fishfa Biogenics Limited, among others, with individual transaction limits set at ₹50 crore. Additionally, shareholders approved the sale of company land located at Kosmada, Taluka-Kamrej, Surat, to Dudhat Ashvin Himmatbhai for a consideration of not less than ₹1.40 crore.
| Resolution | Votes For | Votes Against | % For |
|---|---|---|---|
| Shifting Registered Office | 1,33,26,991 | 2 | 100.00 |
| Appointment of MD | 1,33,26,991 | 2 | 100.00 |
| Re-designation to ED | 1,33,26,991 | 2 | 100.00 |
| Borrowing Limits | 1,33,26,991 | 2 | 100.00 |
| Related Party Transactions | 1,33,26,991 | 2 | 100.00 |
Historical Stock Returns for SJ Corporation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.99% | +33.91% | +88.22% | +140.16% | +151.61% | +1,015.04% |
What strategic advantages does SJ Corporation expect to gain by relocating its registered office from Maharashtra to Gujarat?
How does the company plan to utilize the increased borrowing limits and new financial authorizations to drive future growth?
What impact will the new leadership structure and five-year appointments have on the company's long-term strategic direction?
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