Sunteck Realty Limited has announced the completion of a subsidiary restructuring exercise involving the transfer of two wholly-owned subsidiaries to step-down subsidiary positions. The company disclosed these transactions under Regulation 30 of the SEBI Listing Obligations and Disclosures Requirements Regulations, 2015.

Transaction Details

The restructuring involved two key transfers completed on 13th March, 2026:

Subsidiary Information

Magenta Buildcon Private Limited was incorporated on 13th August, 2025, making it a relatively new entity within the group structure. The company reported no revenue from operations during the last financial year, which is consistent with its recent incorporation date.

Sunteck Infracon Private Limited, the other subsidiary involved in the restructuring, had a total net worth of Rs. 0.11 lakh and no revenue from operations in the previous financial year.

Related Party Transactions

Both transactions have been classified as related party transactions due to the transfers occurring between the company and its subsidiaries. The company has confirmed that both transactions were conducted on an arm's length basis, ensuring compliance with regulatory requirements.

Post-Transaction Structure

Following the restructuring, both Magenta Buildcon Private Limited and Sunteck Infracon Private Limited continue as subsidiaries of Sunteck Realty Limited, but now operate as step-down wholly-owned subsidiaries rather than direct subsidiaries. This change in ownership hierarchy maintains the companies within the group structure while potentially providing operational or strategic benefits.

The disclosure was made in accordance with SEBI Master Circular dated 11th November, 2024, and SEBI Circular dated 31st December, 2024, demonstrating the company's commitment to regulatory compliance and transparency in corporate restructuring activities.

Sunteck Realty Limited has successfully concluded its postal ballot process conducted on March 7, 2026, with all three proposed resolutions receiving approval from shareholders with requisite majority. The company announced the voting results on March 9, 2026, following scrutinization by appointed scrutinizer Veeraraghavan N., a practicing company secretary.

Postal Ballot Overview

The postal ballot was conducted for 58,945 shareholders on record date January 30, 2026. The remote e-voting facility was available from February 6, 2026, at 9:00 AM to March 7, 2026, at 5:00 PM through National Securities Depository Limited (NSDL) platform.

Resolution Results

All three resolutions were successfully passed with strong shareholder support:

Resolution 1: Re-appointment of Independent Director

The special resolution for re-appointment of Mr. Chaitanya Dalal (DIN: 00185847) as Independent Director received overwhelming support with 93.69% approval:

Resolution 2: Second Independent Director Re-appointment

The special resolution for re-appointment of Mr. Mukesh Jain (DIN: 01316027) as Independent Director secured approval with 90.32% votes in favour:

Resolution 3: Subsidiary Transactions Approval

The ordinary resolution to approve subsidiary transactions under Regulation 23 of Listing Regulations received approval with 84.99% votes in favour. Notably, promoter group abstained from voting on this resolution, with only public shareholders participating:

Scrutinizer Report

Veeraraghavan N., appointed as scrutinizer by the Board on January 27, 2026, confirmed the transparent conduct of the postal ballot process. The scrutinizer's report highlighted that the postal ballot notice was sent electronically on February 4, 2026, and published in The Free Press Journal (English) and Navshakti (Marathi) on February 5, 2026.

The scrutinizer monitored the e-voting process through NSDL's secured platform and confirmed that all resolutions were approved with requisite majority. The detailed voting results showed strong participation from shareholders across all categories, with total votes polled ranging from 19.43% to 82.73% of outstanding shares depending on the resolution.

The successful completion of all resolutions strengthens the company's governance structure with the re-appointment of experienced independent directors and provides necessary approvals for subsidiary operations under regulatory compliance.