Atal Realtech Ltd., a prominent company listed on the National Stock Exchange of India (symbol: ATALREAL) and the BSE (script code: 543911), recently held a Board of Directors meeting on December 24, 2024, at 2:30 PM, concluding at 3:30 PM. In this crucial meeting, the board addressed several key points, with one of the primary agenda items being the approval of a Postal Ballot Notice.

The Postal Ballot Notice aims to seek the approval of shareholders for the ratification of a related party transaction between Atal Realtech Limited and its Managing Director. This related party transaction, which requires proper scrutiny and formal approval from the shareholders, is a part of the company’s commitment to corporate governance and transparency.

As per Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which govern the disclosure requirements for listed entities, this board decision is being shared with the stock exchanges. This step is in line with SEBI regulations designed to ensure that listed companies maintain transparency with their shareholders, especially when it comes to related party transactions. The notice will now be sent out for postal ballot voting by the shareholders, seeking their consent for the ratification of this transaction.

The decision to proceed with the postal ballot is also reflective of the company’s efforts to maintain high standards of corporate governance. Such transactions often involve an assessment of potential conflicts of interest and are subject to regulatory approvals to ensure they are in the best interests of all stakeholders.

The Postal Ballot process allows shareholders to vote on the matter without having to attend a physical meeting, making it easier for the company to engage its investors in crucial decisions. This move not only aligns with regulatory requirements but also ensures transparency and accountability in corporate decisions.

Key Highlights of the Board Meeting

• The approval of the postal ballot notice is a significant step as the company seeks shareholder ratification for the related party transaction with its Managing Director.
• This transaction will be assessed under SEBI’s regulations, ensuring compliance with all necessary legal frameworks governing related party dealings.
• The postal ballot will be conducted to ensure transparency and accountability, allowing shareholders to express their views and approve the transaction in accordance with corporate governance principles.

Compliance with SEBI Regulations

The approval of related party transactions requires companies to adhere to specific regulations designed to ensure fairness and transparency. By opting for the postal ballot route, Atal Realtech is fulfilling its obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs such disclosures. The Postal Ballot Notice will provide shareholders with all necessary information to make an informed decision.

Moving Forward

Atal Realtech Ltd. is committed to maintaining the highest standards of corporate governance and regulatory compliance. The ratification of the related party transaction will enable the company to continue its operations seamlessly while ensuring that its actions are in line with shareholder interests. The postal ballot will allow shareholders to vote on the matter, reinforcing the company’s dedication to involving its stakeholders in key decisions.

The details of the decision, including the Postal Ballot Notice, will be made available to shareholders, ensuring they have ample opportunity to review the information and cast their votes.

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