LK Mehta Polymers Limited announced a significant change in its key personnel as Akash Rajput, the Whole Time Company Secretary and Compliance Officer, tendered his resignation. The company disclosed this information in a regulatory filing to the BSE Limited.

Key Details of the Resignation

Company's Response

The Board of Directors of LK Mehta Polymers Limited has accepted Rajput's resignation. The company stated that it will complete the necessary formalities regarding his resignation in due course. As part of this transition, Akash Rajput will also cease to be a Key Managerial Personnel under the provisions of Section 203 and other applicable provisions of the Companies Act, 2013.

Regulatory Compliance

This announcement adheres to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that there are no other material reasons for the resignation other than those provided in Rajput's resignation letter.

Impact on Company Operations

The departure of a key compliance officer may affect a company's regulatory adherence and corporate governance. However, LK Mehta Polymers Limited has not provided any information regarding a successor or interim arrangements for the position. Shareholders and stakeholders will likely be interested in how the company manages this transition and maintains its compliance standards.

The resignation of a Company Secretary, who plays a crucial role in ensuring regulatory compliance and corporate governance, is a significant event for any listed company. Investors may monitor how LK Mehta Polymers Limited addresses this change in its key managerial personnel and maintains its compliance with regulatory requirements in the interim period.

LK Mehta Polymers Limited has initiated a postal ballot to seek shareholder approval for material related party transactions. The company aims to conduct business with M/s Kamlesh Industries, involving transactions up to ₹10 crore during the fiscal year 2025-26.

Transaction Details

Voting Process

The company has scheduled an e-voting period for shareholders to cast their votes on this proposal:

This move by L.K. Mehta Polymers Limited to seek shareholder approval for related party transactions aligns with corporate governance practices, ensuring transparency in its business operations. Shareholders will have the opportunity to review and vote on these proposed transactions, which could potentially impact the company's financial position and operations in the upcoming fiscal year.

The outcome of this postal ballot may influence the company's business relationships and operational strategies, particularly in its dealings with M/s Kamlesh Industries. Investors and stakeholders may want to closely monitor the voting results and any subsequent announcements from the company regarding these proposed transactions.