{"url":"https://newsforagent.com/news/2026-11-07/jagsonpal-elanistech-asset-transfer-approval","markdown_url":"https://newsforagent.com/news/2026-11-07/jagsonpal-elanistech-asset-transfer-approval.md","title":"Jagsonpal Finance & Leasing Shareholders Approve Elanistech Asset Deal","headline":"Jagsonpal Finance & Leasing Shareholders Back ₹10 Crore Elanistech Asset Transfer and Name Change","description":"Jagsonpal Finance & Leasing shareholders approved a Business Transfer Agreement with Elanistech for ₹10 crore and a name change to Jagsonpal Services Limited.","section":"Mergers & Acquisitions","published_at":"2026-11-07T12:40:26+00:00","modified_at":"2026-11-07T12:40:26+00:00","author":"News Desk","key_takeaways":["Shareholders approved the Business Transfer Agreement with Elanistech Private Limited for ₹10 crore in one or more tranches.","Promoters abstained on the related party resolution but voted 11,092,010 shares in favor of the name change.","The company formally transitioned from Jagsonpal Finance and Leasing Limited to Jagsonpal Services Limited."],"companies":[{"name":"Jagsonpal Finance & Leasing","is_primary":true,"profile_url":"https://akta.pro/company-profiles/003k22q/jagsonpal-finance-leasing","website":"http://www.jagsonpal.co.in"}],"source":{"publisher":"ScanX","title":"Jagsonpal Services approves asset acquisition from related party","url":"https://scanx.trade/stock-market-news/companies/jagsonpal-services-approves-asset-acquisition-related-party/55598618"},"other_sources":[{"publisher":"TradingView","url":"https://www.tradingview.com/news/reuters.com,2026-11-06:newsml_PexklF2Ga:0-pta-news-bawag-group-ag-bawag-group-receives-ecb-approval-for-acquisition-of-ptsb/"},{"publisher":"TradingView","url":"https://www.tradingview.com/news/tradingview:66bd1049b06a2:0-calviks-ab-publ-calvik-completes-acquisition-of-subshore/"},{"publisher":"Moomoo","url":"https://www.moomoo.com/news/post/1003747011/hong-kong-stock-market-update-gushengtang-02273-rises-nearly-3"}],"tags":["Mergers & Acquisitions","Jagsonpal Finance & Leasing"],"body_markdown":"[Jagsonpal Finance & Leasing](https://akta.pro/company-profiles/003k22q/jagsonpal-finance-leasing) Limited shareholders approved a Business Transfer Agreement with Elanistech Private Limited for the acquisition of assets and resources, and a name change to Jagsonpal Services Limited, via remote e-voting that concluded on November 6, 2026. [ScanX](https://scanx.trade/stock-market-news/companies/jagsonpal-services-approves-asset-acquisition-related-party/55598618) reported the results on November 7, 2026.\n\n## Jagsonpal's Elanistech Business Transfer Terms\n\nThe Business Transfer Agreement was approved as an ordinary resolution with 4,580,234 votes in favor and 9 against, or 99.9998% support, according to the scrutinizer's report dated November 7, 2026. The special resolution for noting the Chartered Accountant certificate on the name change drew 15,672,244 votes in favor and 9 against, or 99.9999%.\n\nPromoters abstained from voting on the business transfer because of their interest in the transaction, casting zero votes, while public non-institutional shareholders cast the majority of votes polled. Promoters voted 11,092,010 shares in favor of the name change resolution, where they had no interest.\n\nThe postal ballot covered 5,111 shareholders on the record date of October 1, 2026, with voting held exclusively through remote e-voting between October 8 and November 6, 2026. No physical meeting or poll was held. M/s. Pooja Sawarkar & Associates served as scrutinizer, and National Securities Depository Limited provided the e-voting facility. Results were disclosed under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.\n\n## Jagsonpal's Deal Value and Related Party Status\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Jagsonpal Finance & Leasing is an India-based financial services entity founded in 1991 and headquartered in Mumbai, with a headcount range of 1-10 and a revenue estimate of pre-revenue. The proposed acquisition of assets from Elanistech is valued at ₹10 crore, payable in one or more tranches on an arm's length basis, and is classified as a material Related Party Transaction. Elanistech is a related party because Karthik Srinivasan, Chairman, Managing Director and Chief Financial Officer of Jagsonpal, is also a director and shareholder in Elanistech, holding 99.99% directly. Elanistech reported FY26 turnover of ₹2.58 crore and profit after tax of ₹0.47 crore.\n\n## BAWAG and Calviks Deal Approvals\n\nBAWAG Group received ECB approval for its planned acquisition of Permanent TSB Group Holdings plc in Ireland, [TradingView](https://www.tradingview.com/news/reuters.com,2026-11-06:newsml_PexklF2Ga:0-pta-news-bawag-group-ag-bawag-group-receives-ecb-approval-for-acquisition-of-ptsb/) reported on November 6, 2026, with the transaction still subject to sanction by the High Court. Calviks AB completed its acquisition of 70% of Subshore.no AS after satisfying all conditions, including financing and Norwegian competition approval, [TradingView](https://www.tradingview.com/news/tradingview:66bd1049b06a2:0-calviks-ab-publ-calvik-completes-acquisition-of-subshore/) reported the same day, with an economic effective date of July 1, 2026.\n\n## Jagsonpal's Next Steps After the Vote\n\nThe Audit Committee and Board of Directors approved the transaction on September 29, 2026. The company corrected the disclosed value of prior FY26 transactions with Elanistech to ₹7.248 crore from an initially stated ₹72.48 crore, while the proposed ₹10 crore acquisition remained unchanged.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}