Key Resolution Details

The company seeks approval via a Special Resolution for the following:

  • Enhancement of the aggregate limit for loans, investments, guarantees, and securities from ₹15,000 crore to ₹30,000 crore.
  • This supersedes the previous Special Resolution passed by members on September 5, 2024, which approved a limit of ₹15,000 crore.
  • The resolution covers: (i) giving loans to any person or body corporate, (ii) giving guarantees or providing security in connection with loans to any body corporate or person, and/or (iii) acquiring securities of any other body corporate.
  • The enhanced limit of ₹30,000 crore excludes transactions with wholly owned subsidiaries that are exempt from prior approval under Section 186(3).

Voting Process and Timeline

The assent or dissent on the resolution must be communicated by members through remote e-voting only:

  • E-voting commencement: 9:00 a.m. (IST) on Wednesday, November 4, 2026
  • E-voting end: 5:00 p.m. (IST) on Thursday, December 3, 2026
  • The company has appointed NSDL to provide the remote e-voting facility.
  • The resolution will be deemed passed on December 3, 2026, if approved by the requisite majority.

Cut-off Date and Eligibility

  • The cut-off date for determining members eligible to vote is Friday, October 30, 2026.
  • Voting rights are proportional to the paid-up equity share capital held as of this date.
  • The notice is being sent electronically only to members whose email addresses are registered with the company, KFin Technologies Limited (RTA), or depositories as of the cut-off date.

Scrutinizer Appointment

  • CS Manoj Maheshwari (M. No.: FCS 3355; CP No.: 1971) has been appointed as the Scrutinizer.
  • CS Priyanka Agarwal (M. No.: FCS 11138; CP No.: 15021) has been appointed as the Alternate Scrutinizer.
  • The Scrutinizer's report will be submitted to the Chairperson within two working days after e-voting concludes.

Rationale for Enhancement

The Explanatory Statement provides the following rationale:

  • The enhancement is enabling for optimal use of surplus funds through investments in permissible instruments (bonds, tax-free bonds, zero-coupon bonds).
  • It provides flexibility for future strategic and business objectives, including organic and inorganic growth.
  • The Board believes this enhancement will provide adequate headroom for efficient deployment of surplus funds and meet future financial, treasury, and strategic requirements.
  • The current utilization of the existing ₹15,000 crore limit and projected requirements necessitated this enhancement.

Document Availability

The Postal Ballot Notice is available on:

  • Company website: www.hzlindia.com
  • NSDL e-voting website: www.evoting.nsdl.com
  • Stock exchange websites: BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com)

Additional Information

  • The Board of Directors approved seeking this approval at its meeting held on October 19, 2026.
  • No director, key managerial personnel, or their relatives are interested in the resolution, except to the extent of their shareholding.
  • The company's registered office is at Yashad Bhawan, Yashadgarh, Udaipur, Rajasthan - 313004.