Sunteck Realty Seeks Approval for Director Re-appointments and Dubai Project Transactions

Sunteck Realty Limited has issued a postal ballot notice dated 4 February 2026, seeking shareholder approval for re-appointment of Independent Directors Mr. Chaitanya Dalal and Mr. Mukesh Jain for a second 5-year term until 17 September 2031, along with approval for subsidiary transactions related to its Dubai real estate project. The e-voting period runs from 6 February to 7 March 2026, with results to be declared by 10 March 2026. The company seeks approval for non-fund based limits up to ₹200 Crs and fund based limits up to ₹175 Crs for the Dubai project development.

The company has proposed three resolutions for member consideration through the postal ballot process:

1. Re-appointment of Mr. Chaitanya Dalal (DIN: 00185847) as Independent Director (Special Resolution) 2. Re-appointment of Mr. Mukesh Jain (DIN: 01316027) as Independent Director (Special Resolution) 3. Approval of subsidiary transactions pursuant to Regulation 23 of Listing Regulations (Ordinary Resolution)

Mr. Chaitanya Dalal and Mr. Mukesh Jain were initially appointed as Independent Directors on 18 September 2021, with their first term concluding on 17 September 2026. The Nomination and Remuneration Committee has recommended their re-appointment based on performance evaluation.

Director Profiles and Expertise:

Mr. Chaitanya Dalal (Age: 72 years) - Practicing Chartered Accountant and Managing Partner of M/s. Chaitanya C Dalal & Co, Mumbai - Extensive experience in statutory audits, tax audits, and internal audits of public sector undertakings - Former Head of Accountancy Department at Bhavan's College, Mumbai for 25 years - Holds certificates in ISO 9000 Lead Auditor's Course, Valuation, and Advanced International Taxation

Mr. Mukesh Jain (Age: 70 years) - Law graduate from Shri Ram College of Commerce, New Delhi - Nearly 49 years of experience, starting as a banker and currently practicing law - Specializes in banking, real estate, tenancy, infrastructure, and insolvency laws - Empaneled with several nationalized banks for legal advice

Both directors will be re-appointed for a second term of 5 consecutive years until 17 September 2031. The resolutions also include provisions for their continuation beyond age 75 years, as Mr. Dalal will turn 75 on 24 September 2028 and Mr. Jain on 15 October 2030.

The third resolution seeks approval for transactions involving the company's subsidiaries related to a Dubai real estate project. The key transactions include:

Dubai Project Details: - Ultra luxury branded residential project located at Burj Khalifa Community, Downtown Dubai - Development potential of approximately 1 million sq. ft. - Joint venture with Grand Valley General Trading LLC

Key Transaction Limits: - Non-fund based limits (including guarantees): Up to ₹200 Crs - Fund based limits (loans/investments/advances): Up to ₹175 Crs - Marketing commission: Up to 1% of project sales - Development fees to Revi Realty: 1.75% or 1.50% of sales value

Previous Transaction History: - FY 2024-25: SLL and GGICO Sunteck Investment (₹16.99 Crs) - 01-04-2025 to 31-12-2025: SLL and GGICO Sunteck Investment (₹84.24 Crs) - 27 Oct 2025 to 31 Dec 2025: Sunteck Mas development fees (₹2.62 Crs)

The company has engaged National Securities Depository Limited (NSDL) to provide e-voting facilities to all members. The postal ballot notice is being sent electronically to members whose email addresses are registered with the company, depositories, or registrar and transfer agent.

Important Dates: - Cut-off Date: 30 January 2026 - E-voting Commencement: 6 February 2026, 9:00 a.m. (IST) - E-voting Conclusion: 7 March 2026, 5:00 p.m. (IST) - Results Declaration: On or before 10 March 2026

Mr. Veeraraghavan N (CP No. 4334), Practicing Company Secretary, has been appointed as the Scrutinizer to conduct the postal ballot process and scrutinize votes in a fair and transparent manner. The results will be communicated to stock exchanges and uploaded on the company's website and NSDL's e-voting portal.

The Audit Committee and Board of Directors approved these transactions at their meeting held on 27 January 2026, noting that all transactions are conducted at arm's length basis and in the ordinary course of business. The company has confirmed that none of the promoters, directors, or key managerial personnel have any direct or indirect interest in the proposed transactions, except to the extent of their shareholding in the company.

Sunteck Realty has also announced multiple project launches over the next six months across Mumbai suburbs, including 5th Avenue in Goregaon West, Andheri redevelopment near Western Express Highway, a new tower at Mira Road, two towers in Vasai, and projects in Naigaon. The company has not set specific pre-sales targets for FY27, preferring to assess market stability through yearly results before establishing concrete objectives.