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As on : 24-Sep-2026
Corporate News
24-Sep-2026     22:35

Shah Foods seeks shareholder approval amid scrutiny of Rs 11.20 crore payments to Tandhan Polyplast

Shah Foods Limited is seeking shareholder approval for several items at an upcoming meeting, including the appointment of M/s. MR & Associates as Secretarial Auditors for up to Rs 100,000 plus expenses. More significantly, the company is addressing concerns raised by the Monitoring Agency regarding Rs 11.20 crore in payments made by its subsidiary, TPTPL, to related company Tandhan Polyplast Limited, which were not initially disclosed. These payments, comprising Rs 5.30 crore in trade purchases, Rs 5.70 crore in loan repayment, and Rs 0.20 crore in interest, represent a deviation from the original plan for the Rs 75.16 crore raised through a recent preferential issue. The Board acknowledges the issue and is presenting it to shareholders for transparency, prompting questions about the terms of the transactions and potential conflicts of interest.

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