Aditya Ispat Limited has formally notified BSE Limited about its postal ballot notice seeking shareholder approval for the ₹36.76 crore slump sale of its non-alloy steel business to promoter group company Jai Bapji Ispat Private Limited. The company submitted the notification on February 26, 2026, in continuation of its earlier letter dated February 23, 2026.

BSE Notification and Regulatory Compliance

The company has submitted the complete postal ballot notice to BSE under Regulation 30 of SEBI Listing Regulations. Company Secretary Varsha Pandey (Membership No. A72878) signed the notification, confirming that the postal ballot notice is being distributed electronically to shareholders whose email addresses are registered with depositories or the registrar.

Postal Ballot Resolutions and Voting Timeline

Shareholders will vote on two critical resolutions through the postal ballot process. The first resolution seeks special resolution approval for the slump sale under Section 180(1)(a) of the Companies Act, 2013, and Regulation 37A of SEBI LODR Regulations. The second resolution addresses the related party transaction with Jai Bapji Ispat Private Limited under Section 188(1)(b) as an ordinary resolution.

Transaction Structure and Financial Rationale

The proposed slump sale involves transferring the manufacturing and trading activity of non-alloy steel as a going concern for ₹3,67,63,000. This business segment represents 97.75% of the company's total turnover based on audited financial statements. The Audit Committee raised serious concerns over accumulated losses and falling net worth, primarily due to high financial costs from interest burden on manufacturing activities.

Related Party Transaction Details

Jai Bapji Ispat Private Limited qualifies as a related party under Section 2(76) of the Companies Act, 2013, as Mrs. Usha Chachan, Mr. Aditya Chachan, Mr. Anshuman Chachan and Satya Bhagwan Chachan (HUF) are promoter shareholders of both companies. The buyer holds 4.86% of the company's paid-up share capital and is part of the promoter group.

Voting Procedures and Shareholder Access

The company has engaged Central Depository Services (India) Limited (CDSL) to provide e-voting facilities. Shareholders can access the postal ballot notice on multiple platforms including the company website ( www.adityaispat.com ), BSE website, and CDSL platform. Members holding shares in physical form must register their email addresses to participate in the voting process.

For shareholders unable to use remote e-voting, physical postal ballot forms are available for download from the company and exchange websites. Completed forms must reach the scrutinizer's office in Hyderabad before 5:00 PM on the e-voting closing date to be considered valid.

Source: None/Company/INE570B01012/29fc4f93-98da-4e48-8e45-12d96a0fa061.pdf

Aditya Ispat Limited has formally disclosed the creation of pledge on 13.01 lakh equity shares by its promoters and promoter group members to Pillar Investment Company Limited. The pledge was created on February 12, 2026, as collateral for a Rs 1.25 crore loan availed by the company to reduce its bank exposure.

Pledge Details and Shareholding

The pledge encompasses shares held by both promoters and promoter group members, representing 24.32% of the company's total share capital. The disclosure was made under Regulation 31(1) of SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 2011, with formal documentation submitted to the Bombay Stock Exchange on February 13, 2026.

Financial Structure and Security Cover

The pledged shares have a market value of Rs 1.30 crore against the loan amount of Rs 1.25 crore, providing a security cover ratio of 1.04. Pillar Investment Company Limited, classified as an NBFC, is the entity in whose favor the shares have been encumbered.

Regulatory Compliance and Corporate Information

The company has fulfilled its disclosure obligations under multiple SEBI regulations and circulars. The pledge was created for the benefit of the listed company, with funds to be utilized immediately for reducing bank exposure. The formal disclosure was signed by Mr. Aditya Chachan on behalf of all promoters and promoter group members.

The comprehensive disclosure includes detailed annexures specifying the pledge creation process, with the encumbered shares representing 100% of the total promoter shareholding and exceeding both the 50% promoter shareholding threshold and 20% of total share capital thresholds as per regulatory requirements.