Sumit Woods Limited has dispatched a postal ballot notice to its shareholders to seek approval for material related-party transactions and the remuneration of key executives for the upcoming financial year. The resolutions require shareholder consent under Section 188 of the Companies Act, 2013, and Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This procedural step ensures regulatory compliance for corporate governance matters involving executive compensation and related-party dealings.

The postal ballot includes one ordinary resolution and two special resolutions. Shareholders are being asked to approve the remuneration payable to Mr. Bhushan Nemlekar, Whole-time Director, and Mr. Mitaram Jangid, Managing Director, for the Financial Year 2026–27. Additionally, the ballot seeks approval for material related-party transactions as defined under the applicable regulations.

Voting rights are determined based on the paid-up value of equity shares held by members as of the cut-off date, July 24, 2026. The company emailed the postal ballot notice along with the explanatory statement to shareholders on July 31, 2026. Physical copies of the notice and ballot forms are not being dispatched in accordance with Ministry of Corporate Affairs circulars; all communication and voting will occur through the remote e-voting system.

National Securities Depository Limited (NSDL) has been engaged to provide the e-voting facility. The remote e-voting period commences on August 1, 2026, at 9:00 a.m. IST and concludes on August 30, 2026, at 5:00 p.m. IST. Voting will not be permitted after this deadline. Mr. Vijay Yadav, Partner at AVS & Associates, Company Secretaries, has been appointed as the scrutinizer to ensure the fairness and transparency of the voting process.

The results of the postal ballot are expected to be declared on or before September 1, 2026. The outcome will be communicated to the stock exchanges where the company’s shares are listed and displayed on the company’s website. Shareholders with queries regarding the e-voting process may refer to the FAQs and user manual available on the NSDL website or contact the designated support team.

Sumit Woods Ltd has received the Full Commencement Certificate for its residential project SUMIT KMR PARAM, located in Borivali West, Mumbai. The certificate was issued by the Brihanmumbai Municipal Corporation on July 20, 2026, enabling the company to commence construction activities in accordance with the approved plans. This approval marks a significant milestone for the premium residential development proposed on a strategically located open plot in one of Mumbai's prominent residential micro-markets.

The Full Commencement Certificate is valid until March 4, 2027. It authorizes the construction of a proposed residential building No. 1, which includes a basement, partial ground and stilt floors, 1st to 8th podium, and 9th to 37th upper floors for residential use, along with LMR, OHT, and a Dome. The approval is based on the amended plans dated December 1, 2025.

Project Details and Approvals

The project is situated on plot No. 282, 283, 284, and 293, falling under C.T.S. No. 282, 283, 284, 293 and the Borivali-R/C Town Planning Scheme. The site is located at an 18.30 mtr. wide road and 13.40 mtr. wide DP Road in the R/C Ward. The development permission was sought under Section 44 and 69 of the Maharashtra Regional and Town Planning Act, 1966.

The Brihanmumbai Municipal Corporation has appointed Jagannath Shriram Gavhane, Assistant Engineer, to exercise the powers of the Planning Authority under Section 45 of the said Act. The certificate is subject to several conditions, including that no building shall be occupied until occupancy permission is granted and that the permission is valid for one year from the date of issue, renewable annually for up to three years.

Timeline of Commencement Certificates

The project has seen a series of commencement certificates leading up to the full approval:

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.