Zota Health Care responds to proxy advisory firm IiAS regarding a postal ballot resolution seeking shareholder approval to increase limits for loans, guarantees, and investments from ₹500Cr to ₹1,000Cr.
The company clarifies the increased limit is for future strategic acquisitions, investments, and supporting subsidiary Davaindia Health Mart's working capital needs and store network expansion.
Zota discloses it has already exhausted the previously approved ₹500Cr limit through recent investments made via QIP funds, necessitating the higher limit for operational headroom.
The response affirms compliance with Section 186 disclosure requirements in financial statements and commitment to existing legal and governance frameworks for any transactions.