MTAR Technologies Limited has announced the calendar of events for an upcoming postal ballot process seeking approval for three Special Resolutions. The resolutions focus on increasing borrowing limits under Section 180(1)(c), creating mortgages/charges under Section 180(1)(a), and approving a commission payment of up to 1% on net profits to Independent Directors. The e-voting process will commence on February 19, 2026, and conclude on March 20, 2026.
Special Resolutions Ahead via Postal Ballot
The Board of Directors of MTAR Technologies Limited, following its meeting on January 29, 2026, approved seeking shareholder approval through a postal ballot, utilizing remote e-voting, for three critical Special Resolutions:
- To authorize the Board to increase borrowing limits as per Section 180(1)(c) of the Companies Act, 2013.
- To seek approval for the creation of a mortgage or charge on the company’s assets, properties, or undertakings under Section 180(1)(a).
- To consider paying a commission of up to 1% on the company’s net profits to its Independent Directors.
Key Dates for Shareholder Action
The process is governed by specific timelines. The cut-off date for determining eligible members for the ballot notice is set for Friday, February 13, 2026. The dispatch of the Notice is scheduled for February 18, 2026.
The tentative calendar outlines the commencement of remote e-voting on February 19, 2026. Shareholders will have until the end date of voting on March 20, 2026, to cast their votes.
Scrutiny and Result Declaration
The company has appointed Mr. S. Sarweswara Reddy of M/s. S.S. Reddy & Associates as the Scrutinizer for the ballot process. The resolutions are deemed passed on March 20, 2026. The Scrutinizer’s Report is due for submission on the same day, with the Chairman declaring the final results on March 20, 2026.
The final formal step, the last date of signing the Minutes by the Chairman, is scheduled for April 19, 2026.
Source: BSE
