The Board of Directors, via a Circular Resolution passed on 23rd June 2026, proposed conducting a Postal Ballot. This was done under Section 108 and Section 110 of the Companies Act, 2013, read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014, relevant MCA Circulars, Regulation 44 of the SEBI LODR Regulations, and Secretarial Standard SS-2.
The purpose was to seek member approval for special business outlined in the Postal Ballot notice dated 23rd June 2026. The company provided e-voting facilities to all members on the record date of 23rd June 2026. Central Depository Services (India) Limited (CDSL) was appointed to provide the remote e-voting platform.
The Postal Ballot Notice was dispatched via email to members on 30th June 2026. The e-voting period commenced on Wednesday, 1st July 2026, at 9:00 AM and ended on Thursday, 30th July 2026, at 5:00 PM.
Mr. Jay Mehta (FCS No. 8672, COP No. 8694), a Practicing Company Secretary, was appointed as the Scrutinizer for the process via a Board Circular Resolution on 23rd June 2026. The deemed date for the resolution's passing was the last date of the e-voting closure, 30th July 2026.
An advertisement informing members of the dispatch completion was published in the Free Press Journal (English) and Navshakti (Marathi) on 9th April 2025.
The Scrutinizer submitted his report after scrutinizing all e-voting confirmations received by 5:00 PM IST on 1st July 2026. The results were declared on 30th July 2026 at the company's Registered Office at 12/13, Jeevan Udyog Building, 278, D. N. Road, Fort, Mumbai - 400 001 by Mr. Manan Shah, Chairman of the Board.
Vote particulars were entered into a separately maintained register. As voting was solely remote, no report on defaced or mutilated ballots was applicable. Mr. Manan Shah announced that the resolution set out in the notice dated 23rd June 2026 was deemed passed with the requisite majority on 30th July 2026.
Resolution Details
ITEM NO. 1: RE-APPOINTMENT OF MR. KETAN SHRIMANKAR (DIN: 00452468) AS NON-EXECUTIVE INDEPENDENT DIRECTOR
The shareholders resolved to re-appoint Mr. Ketan Shrimankar as a Non-Executive, Independent Director of the Company. His initial appointment was effective from 10th August 2021. He is eligible for re-appointment and has submitted a declaration confirming he meets the independence criteria under Section 149(6) of the Companies Act, 2013 and Regulation 16 of the SEBI LODR Regulations.
His re-appointment is for a second term of two consecutive years, commencing from 10th August 2026. He will not be liable to retire by rotation. The resolution was based on the recommendation of the Nomination and Remuneration Committee and the approval of the Board of Directors.
The Board of Directors or any committee thereof was authorized to take all necessary actions to implement this resolution and to seek any required approvals from concerned authorities.
The document was signed by Shruhita Sangram Rane, Company Secretary & Compliance Officer (Membership No. A73053), on behalf of the company on 30th July 2026. It was also signed by Manan Shah, Director (DIN: 06378095), on behalf of the Board of Directors.