Key Resolution Details

Resolution 1: Approval for continuation and modification of existing material related party transaction relating to inter-corporate deposit(s)/loan(s) to Biodegradable Products India Limited (BPIL).

Specific Terms Approved:

  • Continuation of revolving Inter-Corporate Deposit(s)/Loan(s) arrangement with BPIL for five financial years from FY 2026-27 to FY 2030-31
  • Modification to secure the Company's ICD exposure through creation of a joint mortgage
  • Mortgage to be created over BPIL's immovable property: Survey No. 298 admeasuring 92,800 square metres (22.93 acres) at Village Chande, Taluka Mulshi, District Pune, Maharashtra
  • Mortgage ranking pari passu with other related party lenders: AMJ Land Holdings Limited, Thacker and Company Limited, Chem Mach Private Limited and Suma Commercial Private Limited
  • Aggregate principal amount outstanding shall not exceed ₹40 Crores at any point
  • Each ICD disbursed shall be repayable within 6 years from respective disbursement date
  • Interest to be paid annually within three months from close of each financial year

Security Arrangement:

  • Joint mortgage in favour of AMJ Land Holdings Limited as Lead Mortgagee
  • Mortgage to secure obligations on pari passu basis
  • Aggregate secured obligations under Mortgage Deed shall not exceed ₹200 Crores for all Mortgagees

Postal Ballot Process Details

  • Board approval for postal ballot: July 25, 2026
  • Cut-off date for voting eligibility: September 18, 2026
  • Notice sent via NSDL electronic mode: September 22, 2026
  • Public notice published in Financial Express (All editions) and Loksatta (Pune edition): September 23, 2026
  • Remote e-voting period: September 23, 2026 (9:00 AM IST) to October 22, 2026 (5:00 PM IST)
  • Scrutinizer: Mr. Pankaj Bhanudas Yeole, Practicing Company Secretary (Membership No. ACS 50196, Certificate of Practice No. 19127)
  • Scrutinizer's report date: October 23, 2026

Voting Results

Resolution 1 - Ordinary Resolution:

  • Voted in favor: 32 members, 824,133 votes (99.6821% of valid votes)
  • Voted against: 05 members, 2,628 votes (0.3179% of valid votes)
  • Abstain/Invalid votes: None

Authorization

Board of Directors and Key Managerial Personnel authorized to negotiate, finalize, execute all agreements including Mortgage Deed, present for registration with Sub-Registrar of Assurances, and complete all necessary actions to implement the resolution.