Speedage Commercials Limited held its 41st Annual General Meeting on September 30, 2026, in Mumbai. The meeting commenced at 3:00 pm and concluded at 3:30 pm. Key resolutions included the adoption of financial statements and director reappointment.

Resolutions passed

The shareholders considered and adopted the audited financial statements for the financial year ended March 31, 2026. This included the reports of the Board of Directors and Auditors.

Mrs. Meenakshi Jayesh Bhansali (DIN: 06936671) was reappointed as a Director. She retired by rotation and offered herself for reappointment, being eligible under the Companies Act, 2013.

Special business items

The meeting also addressed special business items. Shareholders approved Material Related Party Transactions as part of the agenda.

Voting and compliance

The company provided remote e-voting facilities from September 27 to September 29, 2026. This was in accordance with Section 108 of the Companies Act, 2013, and SEBI Regulations. Shareholders who did not use e-voting cast votes via ballots during the meeting.

The scrutinizer's report will determine the final voting results. These will be communicated to BSE Limited within two working days. Results will also be available on the company website and that of MUFG Intime India Private Limited.

Speedage Commercials Limited issued an addendum to its 41st Annual General Meeting (AGM) notice on September 11, 2026, providing previously omitted details regarding material related party transactions. The disclosure concerns a proposed unsecured loan of ₹50 crore to Met-Lok Hydro Pneumatics Private Limited.

Addendum Details

The company stated that information required under Regulation 23 of the SEBI Listing Regulations was inadvertently left out of the original explanatory statement circulated on September 7, 2026. The addendum serves as an integral part of the AGM notice, which is scheduled for Wednesday, September 30, 2026, at the company's registered office in Mumbai.

The primary focus of the update is Item No. 3 of the AGM agenda: the approval of material related party transactions. Speedage Commercials seeks shareholder approval for an omnibus limit to grant loans to Met-Lok Hydro Pneumatics Private Limited, a manufacturer of rubber and plastics products. A relative of one of the company's directors holds a directorship in the related entity.

Transaction Structure

The proposed transaction involves granting loans from Speedage Commercials' own sources. The funds are intended to support the related party's main business activities and funding requirements. Key terms of the proposed arrangement include:

• Tenure: Up to the date of the next AGM to be held for Calendar 2027
• Security: Unsecured
• Repayment: On demand
• Interest Rate: To be agreed upon at arm's length between the parties at the time of the transaction
• Approval Status: Prior approval from the Audit Committee has been obtained

The company justified the transaction by stating it enables effective deployment of surplus funds to earn interest income while supporting the operational needs of the related party. It confirmed that none of the promoters, directors, or key managerial personnel have a direct or indirect interest in the transaction beyond what is disclosed, except for Mr. Babulal Bhansali, who has nil shareholding in the related party but whose relative is a director there.

Related Party Financials

Met-Lok Hydro Pneumatics Private Limited reported significant growth in standalone turnover over the last three fiscal years. The financial performance of the related party is detailed below:

The value of the proposed transactions represents 73.55% of Speedage Commercials' annual consolidated turnover for the immediately preceding financial year. There have been no defaults by the related party concerning obligations undertaken with the listed entity during the last three financial years.

Previous Transactions

Historical data shows varying levels of loan exposure to the related party:

During the current financial year, up to the date of the Audit Committee's approval, the total amount of transactions undertaken was ₹4.80 crore.

Meeting Logistics

The AGM remains scheduled for September 30, 2026, at 3:00 pm. The register of members and share transfer books will remain closed from Thursday, September 24, 2026, through Wednesday, September 30, 2026, to determine eligibility for attendance and voting. Members can participate via remote e-voting through the company's website or MUFG Intime India Private Limited.