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.

Speedage Commercials Limited held its board meeting on August 27, 2026, to approve the notice for its 41st Annual General Meeting. The company fixed September 23, 2026, as the record date for remote e-voting.

The Board also closed the register of members from September 24 to September 30, 2026. This closure determines shareholder eligibility for the AGM scheduled for September 30, 2026.

Auditor Reappointment

The Board reappointed M/s. M.R.V & Co., Chartered Accountants, as the internal auditor for FY27. The firm holds registration number 135836W.

M.R.V & Co. provides audit, assurance, tax, and due diligence services. The company cited the firm’s reputation and client satisfaction as reasons for the reappointment.

Key Dates

The meeting concluded at 4:50 pm after commencing at 4:30 pm.