Rajputana Industries Limited Board Approves Key Transactions and Records Additional Executive Director's Resignation
Rajputana Industries Limited announced several key resolutions following its Board of Directors meeting held on April 18, 2026. The Board considered matters ranging from approvals for related party transactions to confirming the resignation of an Additional Executive Director.During the meeting, the Board approved several major corporate actions, subject to the requisite shareholder and statutory approvals.
Personnel Changes
A primary resolution concerned Mr. Piyush Sharma, Additional Executive Director. Mr. Sharma submitted his resignation, effective from the close of business hours on April 18, 2026, citing personal reasons. Details regarding his tenure confirmed that his cessation took effect on April 18, 2026.Transaction and Governance Approvals
The Board approved the principles governing several significant transactions. These included:- Approval to advance any loan, provide guarantee, or secure any collateral under Section 185 of the Companies Act, 2013.
- Approval for Related Party Transactions under Section 188 of the Companies Act, 2013.
Related to the transactions, the Board reviewed a proposal for a loan to Shera Metal Private Limited. The proposed transaction details are as follows:
| Particulars | Details |
|---|---|
| Related Party Name | Shera Metal Private Limited |
| Relationship | Entity in which Directors are interested (Common Directors) |
| Nature of Transaction | Grant of Loan |
| Type of Transaction | Inter-corporate Loan |
| Value of Transaction | Up to ₹ 15,00,00,000 |
| Tenure | 1 year |
| Security | Unsecured |
| Materiality Status | The proposed transaction does not exceed the materiality threshold of 10% of annual consolidated turnover. |
| Approval Required | Audit Committee, Board, Shareholders |
The Board confirmed that this loan would be for the principal business activities of the borrowing entity, be at arm's length, and that the transaction was subject to shareholder approval via Postal Ballot.
Electoral Process and Next Steps
In preparation for shareholder decision-making, the Board also approved the draft Postal Ballot Notice for seeking member approvals. Furthermore, the Board appointed Mr. Sanjay Kumar Joshi, a Practising Company Secretary (Membership No. F-6745), to serve as the Scrutinizer for the postal ballot process, ensuring transparency. The meeting concluded with the Board approving the full calendar of events, including the cut-off date for the postal ballot and e-voting processes.RAJINDLTD Stock Price Movement
Shares of Rajputana Industries Limited slipped 5.68% on Friday, settling at ₹78.05. The stock finished its day's trading on a volume of 22,500 shares.Source:
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