L.K. Mehta Polymers Limited has successfully obtained shareholder approval for material related party transactions through a postal ballot process. The company sought approval to conduct business transactions worth up to ₹10.00 crore with M/s Kamlesh Industries during fiscal year 2025-26.

Transaction Details

Postal Ballot Results

The postal ballot voting process concluded successfully on December 19, 2025, with shareholders approving the proposed resolution. The scrutinizer's report, issued by Mr. Neelesh Gupta, Practicing Company Secretary, confirmed that the resolution passed with the requisite majority.

Scrutinizer Report Findings

The scrutinizer's report dated December 20, 2025, provided comprehensive details about the voting process. Mr. Neelesh Gupta, appointed as scrutinizer pursuant to Section 110 of the Companies Act, 2013, conducted the scrutiny in a fair and transparent manner. The e-voting process was facilitated by Central Depository Services Limited (CDSL) and witnessed by two independent witnesses, Ms. Nividhi Thakur and Ms. Darshana Chaturvedi.

Regulatory Compliance

The postal ballot was conducted in accordance with Section 110 of the Companies Act, 2013, and relevant SEBI regulations. The company submitted the voting results to the stock exchanges pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The resolution is deemed to have been passed on December 19, 2025, the last date of the e-voting period. Promoters and members of the promoter group, being interested parties in the transaction, were not entitled to vote on the resolution, and any votes cast by them were considered invalid.

This approval enables L.K. Mehta Polymers to proceed with its planned business transactions with M/s Kamlesh Industries, involving the sale, purchase, and job work related to plastic ropes and granules within the approved limit.

LK Mehta Polymers Limited has reported full compliance in the utilization of its Initial Public Offering (IPO) proceeds for the half-year ended September 30, 2025. The company has confirmed that there were no deviations from the intended use of funds raised through its public issue.

IPO Fund Utilization

The company provided a detailed breakdown of its IPO fund utilization:

LK Mehta Polymers has utilized INR 6.62 crores out of the total IPO funds of INR 7.38 crores. The remaining amount of INR 76.59 lakhs is currently held in a fixed deposit with HDFC Bank.

Fund Allocation

The company stated that the funds have been used as per the original plan outlined in their IPO prospectus:

1. Funding Working Capital Requirements
2. General Corporate Purposes
3. IPO-related Expenses

Regulatory Compliance

In adherence to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, LK Mehta Polymers submitted a statement confirming no deviations or variations in the use of IPO proceeds. This statement was reviewed and approved by both the Audit Committee and the Board of Directors in their meeting held on November 14, 2025.

Additional Corporate Actions

The company also disclosed other significant corporate actions in its LODR filing:

1. Approval of Unaudited Financial Results for H1 2025
2. Initiation of a Postal Ballot process
3. Appointment of a Scrutinizer for the Postal Ballot (E-Voting)
4. Setting November 14, 2025, as the cut-off date for determining shareholder eligibility for the Postal Ballot notice
5. Appointment of CDSL as the E-Voting agency

These actions demonstrate LK Mehta Polymers' commitment to transparency and regulatory compliance in its operations and shareholder engagement.

The company's proactive disclosure and proper utilization of IPO funds reflect positively on its corporate governance practices, which may be of interest to current and potential investors.