Madhav Marbles and Granites Limited seeks shareholder approval for three material related party transactions
Madhav Marbles and Granites Limited is seeking members' consent at an Extra-Ordinary General Meeting (EGM) scheduled for July 06, 2026. The meeting is convened to gain approvals for various material related party transactions with its subsidiaries and associated companies, which are deemed necessary for the operational efficiency and business expansion of the company.The Board of Directors has recommended the three proposals, all of which relate to continuing or entering into transactions with affiliated entities in the ordinary course of business. The EGM is intended to seek Ordinary Resolution approval for these material commitments from the shareholders.
Key Related Party Transactions (RPTs) Under Review
The Company proposes and seeks member approval for transactions involving three distinct related parties: Madhav Ashok Ventures Private Limited, Madhav Surfaces (FZC) LLC, and Madhav Natural Stone Surfaces Private Limited. These transactions involve financial support, rendering of services, and procurement of goods across the respective groups.The terms set forth for these RPTs are summarized below:
| Related Party Name | Relationship to Company | Transaction Limit Sought |
|---|---|---|
| Madhav Ashok Ventures Private Limited (MAVPL) | Subsidiary (Listed Entity holds 60% stake, aiming for 100% WOS) | Up to INR 50 Crores |
| Madhav Surfaces (FZC) LLC (MSL) | Associate of the Subsidiary | Up to INR 40 Crores |
| Madhav Natural Stone Surfaces Private Limited (MNSSPL) | Subsidiary | Up to INR 10 Crores |
Transaction Details and Justification
The RPTs are essential for achieving the company's business objectives, providing necessary financial support, and ensuring consistent flow of high-quality goods. All transactions are committed to being executed in the ordinary course of business and at an arm's length basis.Regarding the proposed transactions:
- MAVPL: The transaction limit is set up to INR 50 Crores. MAVPL is a subsidiary, and the company holds a 60% stake, with plans underway to complete the acquisition of the remaining 40% shareholding to make the subsidiary 100% wholly owned subsidiary (WOS).
- MSL: The transaction limit with MSL is set at INR 40 Crores.
- MNSSPL: MNSSPL, which is a subsidiary, has a proposed transaction limit of up to INR 10 Crores.
The Explanatory Statement notes that the Board of Directors reviewed and approved these proposals, subject to subsequent shareholder approval. The company plans to provide loans, inter-corporate deposits, advances, investments, and financial facilities to enable these related parties to meet their funding requirements in line with the best interest of Madhav Marbles and Granites Limited.
The EGM is scheduled for Monday, July 06, 2026, at 11:30 A.M. (IST) and will be conducted via Video Conferencing/Other Audio Visual Means.
MADHAV Stock Price Movement
Madhav Marbles and Granites Limited saw its stock settle in the green today, posting a 1.42% gain to close at ₹37.78. The equity traded robustly during the session, with a total of 1,140 shares changing hands.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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