Prodocs Solutions Board Approves Material Related Party Transactions
Prodocs Solutions Ltd's Board of Directors convened on October 9, 2026, approving several material related party transactions. These include the acquisition of 40% equity shares of eData Solutions INC, USA, a step-down subsidiary, by Prodocs Solutions INC, USA, for up to USD 1.5 million (approx. ₹15 Crores). Additionally, Prodocs Solutions INC, USA, will provide a loan of up to USD 1.5 million (approx. ₹15 Crores) to eData Solutions INC, USA. Another transaction involves Gemini Innovations Private Limited, where a promoter has an interest, for corporate guarantee, loan advancement, and office premise leasing. Shareholder approval will be sought via postal ballot for these transactions. The appointment of a scrutinizer for the e-voting process was also approved.
Key Highlights
- Board approved acquisition of 40% stake in eData Solutions INC for up to $1.5M.
- Subsidiary to receive financial assistance of up to $1.5M.
- Material related party transactions approved with Gemini Innovations.
- Shareholder approval to be sought via postal ballot and e-voting.
- Appointment of scrutinizer for e-voting process approved.
Price Impact
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