Galactico Corporate Services Issues Postal Ballot Notice for ₹6 Crore Investment
Galactico Corporate Services has issued a postal ballot notice seeking shareholder approval for investing up to ₹6 crores in subsidiary Instant Finserve Private Limited. The e-voting process runs from December 19, 2025 to January 17, 2026, with results declared on January 19, 2026. The investment exceeds Section 186 limits and requires special resolution approval.
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Galactico Corporate Services has issued a postal ballot notice to shareholders seeking approval for its proposed investment of up to ₹6 crores in subsidiary company Instant Finserve Private Limited. The company submitted the postal ballot notice to BSE Limited on December 17, 2025, following the board approval obtained on December 16, 2025.
E-Voting Timeline and Process
The company has established a comprehensive e-voting schedule for shareholders to participate in the approval process. The remote e-voting facility will be available through National Securities Depository Limited (NSDL) platform.
| Parameter | Details |
|---|---|
| E-voting Start Date | December 19, 2025 (9:00 AM IST) |
| E-voting End Date | January 17, 2026 (5:00 PM IST) |
| Cut-off Date | December 15, 2025 |
| Result Declaration | January 19, 2026 |
| Scrutinizer | Akshay R. Birla Associates (COP No. 25084) |
Investment Details and Regulatory Compliance
The proposed investment exceeds the limits prescribed under Section 186(2) of the Companies Act, 2013, which restricts investments beyond 60% of paid-up share capital, free reserves and securities premium account, or 100% of free reserves and securities premium account, whichever is higher. This necessitates shareholder approval through a special resolution.
| Investment Parameter | Details |
|---|---|
| Investment Amount | Up to ₹6.00 crores |
| Subsidiary Company | Instant Finserve Private Limited |
| Country of Incorporation | India |
| Investment Tenure | Long Term |
| Source of Funds | Proceeds from rights issue of shares |
| Related Party Transaction | Yes (at arm's length basis) |
Fund Utilization Strategy
The investment proceeds will serve multiple strategic purposes for the subsidiary company. The primary objective is to strengthen Instant Finserve Private Limited's financial position through debt reduction and business expansion initiatives.
| Utilization Purpose | Description |
|---|---|
| Primary Use | Repay outstanding optionally convertible debentures (OCDs) to promoter group |
| Secondary Use | General corporate purposes for business growth |
| Expected Impact | Reduce subsidiary's debt burden and improve financial position |
| Implementation | One or more tranches as determined by board |
Shareholder Communication and Accessibility
In compliance with MCA circulars, the postal ballot notice is being sent electronically to shareholders whose names appear on the Register of Members as of the cut-off date. The notice will be available on the company's website at www.galacticocorp.com , BSE website, and NSDL's e-services portal. Physical copies of the notice are not being distributed to members, following current regulatory guidelines for electronic communication.
The board has appointed M/s. Akshay R. Birla Associates as the scrutinizer to ensure fair and transparent conduct of the postal ballot process. Shareholders eligible to vote are those whose names appear on the register as of December 15, 2025, with voting rights proportional to their equity shareholding in the company.
Historical Stock Returns for Galactico Corp services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.72% | +2.78% | +2.30% | -10.12% | -34.12% | +152.27% |
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