Board Meeting Details
The Board of Directors meeting was held on Friday, October 23, 2026, commencing at 3:00 PM and concluding at 3:40 PM. The meeting was conducted upon the recommendation of the Audit Committee.
Key Decisions Approved
1. Loan Authorization with Equity Conversion Option
The Board approved raising an unsecured loan of up to ₹100,00,00,000 (Rupees One Hundred Crores only) from Mr. Sachidanand H. Upadhyay, Promoter and Managing Director of the Company. The loan includes an option to convert the same into fully paid-up equity shares.
Key terms including rate of interest, repayment tenure, and conversion pricing guidelines are subject to final approval of shareholders and compliance with applicable provisions of Section 62(3) of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.
2. Postal Ballot Approval
The Board approved conducting a Postal Ballot (including remote e-voting) to seek shareholder approval for the proposed corporate action/business in accordance with Section 110 and other applicable provisions of the Companies Act, 2013.
Postal Ballot Timeline:
- Cut-off Date: Friday, October 23, 2026 (for determining eligibility of members to vote)
- Date of Completion of Dispatch: Monday, October 26, 2026 (completion of electronic dispatch of Postal Ballot Notice)
- E-voting Period: Commences at 9:00 AM (IST) on Tuesday, October 27, 2026 and ends at 5:00 PM (IST) on Wednesday, November 25, 2026
- Result Declaration: On or before Friday, November 27, 2026 (to be announced on company website and intimated to Stock Exchanges)
3. Service Provider Appointment
National Securities Depository Limited (NSDL) has been engaged for facilitating remote e-voting to enable members to cast their votes electronically.
4. Postal Ballot Notice Approval
The Board approved the draft Postal Ballot Notice and Explanatory Statement pursuant to Section 102 of the Companies Act, 2013 for circulation to shareholders.
5. Scrutinizer Appointment
Ms. Geeta Serwani, proprietor of Geeta Serwani & Associates, Practicing Company Secretary, was appointed as Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
6. Authorization Delegation
The Board authorized Mr. Sachidanand Hariram Upadhyay, Managing Director (DIN: 01631728) to:
- Finalize the Postal Ballot Notice
- Dispatch the notice to shareholders
- Appoint NSDL for e-voting
- Issue public advertisement
- Complete all statutory formalities related to the Postal Ballot process
Distribution Method
Postal Ballot Notice will be sent only through electronic mode to all members whose email address is registered with the Company/Company's Registrar and Transfer Agent/Depository Participants/Depositories. The notice will also be uploaded on the Company's website https://lordsmark.com/.
Trading Window Status
The Trading Window for dealing in the securities of the Company remains closed and will reopen 48 hours after the declaration and public release of the financial results for the quarter ended September 30, 2026.
#Tags: #LordsMarkIndustries #SEBIDisclosure #RegulatoryCompliance #Fundraising #PostalBallot