Thacker and Company Limited has successfully obtained shareholder approval for a material related party transaction with Biodegradable Products India Limited. The approval came through a postal ballot process conducted entirely via remote e-voting.

Key Details of the Approval Process

The company utilized a postal ballot mechanism, as mandated by regulatory requirements for certain types of resolutions. The voting process was conducted entirely through remote e-voting, reflecting the increasing trend towards digital voting methods in corporate governance.

Significance of the Approval

The high percentage of votes in favor (87.25%) indicates strong shareholder support for the proposed transaction. This level of backing suggests that shareholders see potential value in the material related party transaction with Biodegradable Products India Limited.

Material related party transactions are significant business deals between a company and its related entities, such as subsidiaries, associates, or entities with common control. These transactions often require special scrutiny and shareholder approval to ensure transparency and protect the interests of minority shareholders.

While specific details of the transaction were not provided, the approval paves the way for Thacker and Company Limited to proceed with what is likely a substantial business arrangement with Biodegradable Products India Limited.

Regulatory Compliance

By conducting this postal ballot and securing shareholder approval, Thacker and Company Limited has demonstrated its commitment to corporate governance and regulatory compliance. This process aligns with the requirements set forth by the Securities and Exchange Board of India (SEBI) for material related party transactions.

Investors and market watchers will likely keep a close eye on further developments regarding this transaction and its potential impact on Thacker and Company Limited's business operations and financial performance.

Thacker and Company Limited has issued a corrigendum to its postal ballot notice dated October 27, 2025, providing additional disclosures for a material related party transaction with Biodegradable Products India Limited. The transaction involves an inter-corporate deposit arrangement worth Rs. 2,000 lakhs, representing a significant portion of both companies' annual consolidated turnover.

Transaction Details

Impact on Companies

Related Party Information

Biodegradable Products India Limited is part of Thacker's promoter group, with common directors Mr. Arunkumar Jatia and Mr. Surendra Kumar Bansal. Mr. Jatia holds a significant 45.74% of the equity share capital in Biodegradable Products India Limited.

Previous Transactions

The company had Rs. 240.00 lakhs in transactions with the related party in the last financial year and Rs. 300.00 lakhs in the current financial year up to the quarter preceding the approval request.

Purpose and Justification

The funds will be used for operational activities and business requirements by Biodegradable Products India Limited. Thacker and Company Limited states that this Related Party Transaction supports the working capital and other requirements of Biodegradable Products India Limited, aiding its operational needs.

Voting Process

Remote e-voting for shareholders is scheduled from October 31, 2025, to November 29, 2025. The corrigendum, which forms an integral part of the original postal ballot notice, is being sent electronically to members whose email addresses are registered with the company or depository participants as of October 24, 2025.

Additional Information

Biodegradable Products India Limited holds approximately 25 acres of land near Hinjewadi, Pune. Despite current losses and negative net worth, this landholding may offer potential for future growth and value creation.

The proposed transaction underscores the complex relationships within corporate groups and the importance of transparency in related party transactions. Shareholders will need to carefully consider the implications of this substantial inter-corporate deposit on Thacker and Company Limited's financial position and future prospects.