Thacker and Company Limited has issued a corrigendum to its postal ballot notice dated October 27, 2025, providing additional disclosures for a material related party transaction with Biodegradable Products India Limited. The transaction involves an inter-corporate deposit arrangement worth Rs. 2,000 lakhs, representing a significant portion of both companies' annual consolidated turnover.

Transaction Details

Impact on Companies

Related Party Information

Biodegradable Products India Limited is part of Thacker's promoter group, with common directors Mr. Arunkumar Jatia and Mr. Surendra Kumar Bansal. Mr. Jatia holds a significant 45.74% of the equity share capital in Biodegradable Products India Limited.

Previous Transactions

The company had Rs. 240.00 lakhs in transactions with the related party in the last financial year and Rs. 300.00 lakhs in the current financial year up to the quarter preceding the approval request.

Purpose and Justification

The funds will be used for operational activities and business requirements by Biodegradable Products India Limited. Thacker and Company Limited states that this Related Party Transaction supports the working capital and other requirements of Biodegradable Products India Limited, aiding its operational needs.

Voting Process

Remote e-voting for shareholders is scheduled from October 31, 2025, to November 29, 2025. The corrigendum, which forms an integral part of the original postal ballot notice, is being sent electronically to members whose email addresses are registered with the company or depository participants as of October 24, 2025.

Additional Information

Biodegradable Products India Limited holds approximately 25 acres of land near Hinjewadi, Pune. Despite current losses and negative net worth, this landholding may offer potential for future growth and value creation.

The proposed transaction underscores the complex relationships within corporate groups and the importance of transparency in related party transactions. Shareholders will need to carefully consider the implications of this substantial inter-corporate deposit on Thacker and Company Limited's financial position and future prospects.

Thacker and Company Limited (TCL) has announced a significant corporate action, seeking shareholder approval for a material related party transaction with Biodegradable Products India Limited (BPIL). The proposed transaction, involving inter-corporate deposits and resource transfers, underscores the intricate financial relationships within the corporate landscape.

Transaction Details

The proposed arrangement includes:

Corporate Relationship

The transaction highlights the close ties between TCL and BPIL:

• Common Directors: Mr. Arunkumar Jatia and Mr. Surendrakumar Bansal serve on both companies' boards.
• Significant Shareholding: Mr. Arunkumar Jatia holds 45.74% of BPIL's share capital.

Approval Process and Voting

The Board of Directors and Audit Committee of TCL approved the transaction on October 27, subject to shareholder approval. Shareholders can cast their votes through remote e-voting:

• Commencement: October 31 (09:00 a.m. IST)
• Conclusion: November 29 (05:00 p.m. IST)

Strategic Implications

While BPIL is currently loss-making with a negative net worth, it holds approximately 25 acres of land near Hinjewadi, Pune. This land asset presents potential for future growth and value creation, possibly influencing TCL's decision to engage in this substantial transaction.

Regulatory Compliance

The transaction falls under the purview of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, necessitating shareholder approval due to its material nature. TCL asserts that the transaction is at arm's length and in the ordinary course of business.

This proposed transaction represents a significant financial commitment for Thacker and Company Limited, potentially impacting its liquidity and financial position. Shareholders will need to carefully consider the terms and potential benefits of this arrangement before casting their votes.