Meeting Details

The Postal Ballot was conducted through remote e-voting only, with the voting period concluding on Thursday, October 22, 2026. The meeting was not a physical gathering but a postal ballot process conducted in compliance with Section 110 of the Companies Act, 2013 and relevant rules and regulations.

Proposed Resolution and Implications

The single Ordinary Resolution sought approval for:

  • Continuation of existing revolving Inter-Corporate Deposit(s)/Loan(s) arrangement with Biodegradable Products India Limited (BPIL) for five financial years from FY 2026-27 to FY 2030-31
  • Modification of the existing ICD arrangement by securing the Company's exposure through creation of a joint mortgage over BPIL's immovable property
  • The property consists of Survey No. 298 admeasuring 92,800 square metres (approximately 22.93 acres) at Village Chande, Taluka Mulshi, District Pune, Maharashtra
  • The mortgage would rank pari passu with other related party lenders: 3P Land Holdings Limited, Thacker and Company Limited, Chem Mach Private Limited and Suma Commercial Private Limited
  • Aggregate principal amount outstanding shall not exceed Rs. 40 Crores at any point
  • Each ICD disbursed shall be repayable within 6 years from its respective date of disbursement
  • Interest to be paid annually within three months from close of each financial year
  • The joint mortgage shall secure obligations not exceeding Rs. 200 Crores in favor of all mortgagees together

Voting Process and Methods

The Postal Ballot was conducted through remote e-voting only with the following process:

  • Notice of Postal Ballot was sent electronically on Tuesday, September 22, 2026 through KFin Technologies Limited
  • Public notice was published in Financial Express (All editions) and Loksatta (Pune edition) on Wednesday, September 23, 2026
  • Remote e-voting period commenced on Wednesday, September 23, 2026 (9:00 a.m. IST) and concluded on Thursday, October 22, 2026 (5:00 p.m. IST)
  • Cut-off date for determining eligible voters was Friday, September 18, 2026

Key Voting Outcomes

Resolution 1: Approval for continuation and modification of Material Related Party Transaction

  • Total votes cast: 14,79,843 votes
  • Votes in favor: 14,78,351 votes (99.90% of valid votes cast)
  • Votes against: 1,492 votes (0.10% of valid votes cast)
  • Number of members voting in favor: 68 members
  • Number of members voting against: 6 members
  • Abstain/Invalid votes: None reported

The resolution was declared passed with requisite majority on October 22, 2026.

Scrutinizer's Role and Findings

Ms. Savita Jyoti (Membership No. FCS 3738 & Certificate of Practice No. 1796), Practicing Company Secretary from Hyderabad, was appointed as Scrutinizer to conduct the Postal Ballot process in a fair and transparent manner. She submitted her Scrutinizer's report in the prescribed format to the Company on Friday, October 23, 2026.

Compliance with Laws and Regulations

The Postal Ballot was conducted in compliance with:

  • Section 110 and applicable provisions of the Companies Act, 2013
  • Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA General Circular Nos. 14/2020, 17/2020, 20/2020 and subsequent circulars including 03/2025
  • SEBI Master Circular No. HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated January 30, 2026
  • Secretarial Standard on General Meetings (SS-2)
  • Related Party Transaction Policy of the Company

Additional Information

The Company's Registered Office is at Thergaon, Chinchwad, Pune-411033, with Corporate Office at Jatia Chambers, 60, Dr. V.B. Gandhi Marg, Kalaghoda, Mumbai-400001. The company's CIN is L21012MH1964PLC013058 and scrip codes are AMJLAND (NSE) and 500343 (BSE).