Meeting Details

The 46th Annual General Meeting of SNL Bearings Limited will be held on Tuesday, August 11, 2026 at 11:30 A.M. (IST) through Video Conference/Other Audio-Visual Means without physical attendance.

Ordinary Business

1. To consider and adopt the audited financial statements for the year ended March 31, 2026, together with reports of Board of Directors and Auditors

2. To appoint a Director in place of Mr. Satish Chellaram Rangani (DIN: 00209069) who retires by rotation

Special Business

Item 3: Re-appointment of Mr. Kaiyomarz Minoo Marfatia as Independent Director

  • Special resolution to re-appoint Mr. Kaiyomarz Minoo Marfatia (DIN: 03449627) as Independent Director
  • Proposed term: May 31, 2026 to May 30, 2031 (second term of 5 years)
  • Currently serving since May 31, 2021 with term ending May 30, 2026
  • Qualifications: B.Com graduate, Law degree from Government Law College, Mumbai
  • Experience: 45+ years in legal and secretarial streams, 30 years with Abbott India Limited
  • Expertise: Corporate legal, secretarial, compliance, regulatory, litigation, IPR matters
  • Currently on Board of Abbott India Limited for 15+ years
  • Will receive sitting fees for meetings and commission as decided by Board
  • Company received notice from shareholder proposing his candidature under Section 160(1) of Companies Act

Item 4: Material Related Party Transactions

  • Ordinary resolution to approve material related party transactions with NRB Bearings Limited
  • NRB Bearings is holding company of SNL Bearings (holds 73.45% shares)
  • Transactions include purchase/sale of machinery, equipment, raw materials, and reimbursement of expenses
  • Aggregate value proposed: Up to ₹40 crore (Rupees Forty Crore)
  • Transaction period: Until conclusion of 47th Annual General Meeting
  • Previous FY transactions (2025-2026): ₹2,605 lakhs
  • Current quarter transactions (April-June 2026): ₹996 lakhs
  • Financial impact: Proposed transactions represent 70.65% of SNL's annual turnover and 3.00% of NRB's consolidated turnover
  • NRB Bearings financials (2025-2026 consolidated): Turnover ₹1,33,515 lakhs, Profit ₹14,563 lakhs, Net worth ₹96,263 lakhs
  • Transactions approved by Audit Committee and Board on May 04, 2026
  • Interested parties: Ms. Harshbeena Zaveri (Promoter/Director in both companies) and Mr. Satish Rangani (Director in both companies)

Item 5: Payment of Commission to Non-Executive Directors

  • Special resolution to approve payment of commission to Non-Executive Directors
  • Maximum commission: Not exceeding ₹3 lakh per director annually
  • Total commission pool: Not exceeding 3% of net profits calculated under Section 198 of Companies Act
  • Applies to: Mr. Satish Rangani and Mr. Kaiyomarz Minoo Marfatia
  • Board meeting attendance (FY 2025-2026): Mr. Rangani attended 4 meetings, Mr. Marfatia attended 5 meetings
  • Directors will receive commission in addition to sitting fees and expense reimbursements

Shareholder Information

  • Register of Members closed: August 5-11, 2026 (both days inclusive)
  • Record date: August 4, 2026
  • Remote e-voting period: August 8, 2026 (9:00 AM) to August 10, 2026 (5:00 PM)
  • E-voting through CDSL platform
  • Scrutinizer: Mr. Upendra Shukla, Practicing Company Secretary
  • Results declaration: Within 2 working days after meeting
  • Documents available for electronic inspection by shareholders