Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Meeting Details

Type of Meeting: Postal Ballot (no physical meeting)

Cut-off Date: Friday, June 12, 2026

Voting Period: Saturday, June 20, 2026 at 09:00 AM IST to Sunday, July 19, 2026 at 05:00 PM IST

Result Declaration: Within 2 working days after voting concludes

Summary of Proposed Resolutions

Special Business - Ordinary Resolutions (Items 1-4):

Item 1: Ratification of Material Related Party Transaction with Mr. Atul Garg (FY 2025-26)

  • Approval sought for post-facto ratification of unsecured loan(s) aggregating ₹68,19,00,000 (₹68.19 crore) from Mr. Atul Garg (DIN: 01349747), Chairman and Managing Director
  • Transaction occurred during FY 2025-26 for urgent operational requirements
  • Interest rate: 11% per annum
  • Repayable on demand or as mutually agreed
  • Represents 46.67% of company's annual consolidated turnover
  • Debt to Equity ratio impact: From 1.68:1 to 1.95:1
  • Debt Service Coverage ratio impact: From 1.41:1 to 1.23:1

Item 2: Approval of Material Related Party Transaction with Mrs. Preeti Garg (FY 2026-27)

  • Approval for unsecured loan(s) not exceeding ₹25,00,00,000 (₹25 crore) from Mrs. Preeti Garg (DIN: 07048745), Non-Executive Director
  • For FY 2026-27 operational requirements
  • Interest rate: 11% per annum
  • Represents 11.16% of company's annual consolidated turnover
  • Debt to Equity ratio impact: From 2.12:1 to 2.39:1
  • Debt Service Coverage ratio impact: From 1.51:1 to 1.39:1

Item 3: Approval of Material Related Party Transaction with Mr. Atul Garg (FY 2026-27)

  • Approval for unsecured loan(s) not exceeding ₹25,00,00,000 (₹25 crore) from Mr. Atul Garg
  • For FY 2026-27 operational requirements
  • Interest rate: 11% per annum
  • Represents 11.16% of company's annual consolidated turnover
  • Debt to Equity ratio impact: From 2.12:1 to 2.39:1
  • Debt Service Coverage ratio impact: From 1.51:1 to 1.39:1

Item 4: Approval of Related Party Transaction for Mr. Vashisth Agrawal Remuneration

  • Approval for revised remuneration not exceeding ₹36,00,000 per annum for Mr. Vashisth Agrawal, Senior Accounts Manager
  • Relative of Mr. Atul Garg (MD) and Mrs. Preeti Garg (Director)
  • Period: 3 years from August 1, 2026
  • Represents 0.16% of company's annual consolidated turnover
Special Resolutions (Items 5-8):

Item 5: Revision of Remuneration for Mr. Atul Garg, MD

  • Upward revision to ₹60,00,000 per annum from ₹300,000 per month
  • Effective from April 1, 2026 for remaining tenure until January 31, 2028
  • Minimum remuneration payable even in case of loss/inadequate profits

Item 6: Payment of Remuneration to Mrs. Preeti Garg, Non-Executive Director

  • Remuneration not exceeding ₹30,00,000 per annum
  • Period: 3 years from April 1, 2026
  • Minimum remuneration payable even in case of loss/inadequate profits

Item 7: Payment of Remuneration to Mr. Nitish Agrawal, Non-Executive Director

  • Remuneration not exceeding ₹3,60,000 per annum
  • Period: 3 years from April 1, 2026
  • Exceeds 50% of total annual remuneration payable to all non-executive directors
  • Minimum remuneration payable even in case of loss/inadequate profits

Item 8: Appointment of Mr. Anil Kumar Jhingan as Independent Director

  • Appointment as Non-Executive Independent Director for 5 years from May 21, 2026
  • Continuation of directorship after attaining age of 75 years (currently 74 years)
  • Qualification: M.Sc. Chemistry, MBA from NMIMS
  • Experience: Extensive experience in sales and training functions, previously with Pfizer
  • Shareholding: 3,500 equity shares

Voting Process and Methods

Voting Method: Remote e-voting only (no physical ballot forms)

E-voting Service Provider: Big Share Services Private Limited

Scrutinizer: M/s. Mehta and Mehta, Company Secretaries (ICSI Unique Code: P1996MH007500)

  • Represented by Ms. Alifya Sapatwala (Membership No. A24091) or Ms. Namrata Tatiya (Membership No. A51152)

Voting Eligibility: Members registered as of June 12, 2026 cut-off date

Communication Method: Email only to registered email addresses

Key Compliance Aspects

Regulatory Compliance: The postal ballot is conducted in compliance with:

  • Section 110 of Companies Act, 2013
  • Rules 20 and 22 of Companies (Management and Administration) Rules, 2014
  • SEBI (LODR) Regulations, 2015
  • MCA Circulars: 14/2020, 17/2020, and 03/2025
  • Secretarial Standard on General Meetings (SS-2)

Related Party Abstention: All related parties shall abstain from voting on relevant resolutions as per Regulation 23 of Listing Regulations

Financial Context

Company Financial Performance (as provided):

  • FY 2025-26: Revenue ₹223.99 crore, Profit After Tax ₹5.78 crore
  • FY 2024-25: Revenue ₹146.11 crore, Profit After Tax ₹2.19 crore
  • FY 2023-24: Revenue ₹123.07 crore, Profit After Tax ₹3.12 crore

Shareholding Pattern:

  • Mr. Atul Garg: 41.67% (47,89,500 shares)
  • Mrs. Preeti Garg: 26.10% (30,00,000 shares)
  • Mr. Vashisth Agrawal: 0.21% (24,196 shares)
  • Mr. Nitish Agrawal: 0.42% (48,196 shares)

Additional Information

  • All material documents available for electronic inspection during working hours until July 19, 2026
  • Results will be displayed on company website (www.shreevasulogistics.com) and Bigshare website (https://ivote.bigshareonline.com)
  • Institutional members required to send board resolution/authority letter to scrutinizer
  • The explanatory statement provides detailed financial impact analysis for each resolution