Nectar lifesciences Limited has announced that its board of directors approved a significant inter-corporate loan facility during their meeting on March 02, 2026. The pharmaceutical company's board sanctioned an amount of up to INR 120 crores as a loan to its proposed wholly owned subsidiary, Avensis Exports Private Limited, following the completion of the acquisition process.

Board Meeting Details

The board meeting was conducted on Monday, March 02, 2026, commencing at 04:00 P.M. IST and concluding at 04:30 P.M. IST. The loan approval was part of broader decisions taken during this meeting, as referenced in the company's earlier disclosure dated March 02, 2026.

Regulatory Compliance and Disclosure

The company has committed to providing detailed disclosures regarding the loan agreement as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. These comprehensive disclosures will be submitted to the stock exchanges after the finalization of the definitive loan agreement with the proposed wholly owned subsidiary.

Nectar Lifesciences acknowledged an administrative oversight in the initial disclosure process, stating that the delay was inadvertent and unintentional. The company expressed regret for the omission and assured the exchanges of its commitment to furnishing all material information within prescribed time limits in the future.

Corporate Structure Development

The inter-corporate loan represents a strategic financial arrangement to support the operations of Avensis Exports Private Limited post-acquisition. The loan facility will be activated after the completion of the acquisition process, indicating the company's planned expansion of its corporate structure through the wholly owned subsidiary model.

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding this significant financial commitment. Company Secretary and Compliance Officer Sanjaymohan Singh Rawat signed the official communication to the stock exchanges on March 03, 2026.

Nectar Lifesciences Limited has successfully completed its postal ballot process, with shareholders approving all three resolutions proposed by the company's board of directors. The remote e-voting period concluded on February 28, 2026, marking a significant milestone in the company's corporate governance initiatives.

Postal Ballot Process Overview

The company initiated the postal ballot process on January 28, 2026, seeking shareholder approval for three critical resolutions. The remote e-voting commenced on January 30, 2026, at 9:00 A.M. IST and concluded on February 28, 2026, at 5:00 P.M. IST. Mr. Prince Chadha, a practicing Company Secretary, served as the appointed Scrutinizer for conducting the postal ballot process.

Resolutions and Voting Results

The postal ballot covered three key resolutions, all of which received overwhelming shareholder support:

Resolution 1: Director Appointment

The ordinary resolution for appointing Mr. Sushil Kapoor as Director liable to retire by rotation achieved remarkable success:

Resolution 2: Wholetime Director Appointment

The special resolution for Mr. Sushil Kapoor's appointment as Wholetime Director (Finance) for three years also secured strong approval:

Resolution 3: Memorandum Amendment

The special resolution to adopt a new memorandum of association with amended object clauses received substantial support:

Shareholder Participation

The postal ballot demonstrated strong shareholder engagement, with the company's total shareholding of 194260970 shares represented across different categories. The promoter and promoter group maintained complete participation with 100% voting on their holdings of 100706448 shares. Public institutional investors held 8160031 shares, while public non-institutional shareholders controlled 85394491 shares.

Corporate Governance Compliance

The postal ballot process adhered to all regulatory requirements under the Companies Act, 2013, and SEBI LODR Regulations. The company published advertisements in Business Standard (English) and Desh Sewak (Punjabi) on January 29, 2026, informing shareholders about the postal ballot notice and remote e-voting procedures. The process was conducted entirely through electronic means, with no physical ballot forms dispatched to members.

Expanded Business Scope

The approved memorandum amendment significantly expands Nectar Lifesciences' business scope beyond its core pharmaceutical operations. The new object clauses encompass construction and real estate development, electrical engineering, mechanical engineering, chemical manufacturing, entertainment industry operations, and various other business verticals. This diversification strategy positions the company for broader market opportunities while maintaining its pharmaceutical focus.

The successful completion of the postal ballot process reflects strong shareholder confidence in the company's strategic direction and leadership appointments. All resolutions were deemed passed with the requisite majority as confirmed by the Scrutinizer's report.

Source: None/Company/INE023H01027/e0ad159d-a06f-43a9-bdbd-afe7b9732dc6.pdf