Meeting Details

This is a postal ballot process conducted through remote e-voting only, without a physical meeting. The voting period commences on Thursday, May 28, 2026 at 09:00 a.m. (IST) and ends on Friday, June 26, 2026 at 05:00 p.m. (IST).

Proposed Resolutions and Implications

The postal ballot contains two special resolutions:

1. Re-appointment of Mr. Radhey Shyam Soni (DIN: 07962657) as an Independent Director for a second term of two consecutive years w.e.f. June 30, 2026 up to and including June 29, 2028.

2. Re-appointment of Mrs. Shalu Laxmanraj Bhandari (DIN: 00012556) as an Independent Director for a second term of two consecutive years w.e.f. June 30, 2026 up to and including June 29, 2028.

Both directors were initially appointed for a five-year term effective from June 30, 2021, which concludes on June 29, 2026. Their re-appointment is based on recommendations from the Nomination and Remuneration Committee and Board of Directors.

Voting Process and Methods

The voting is conducted exclusively through remote e-voting process only. The company has appointed NSDL to provide the e-voting facility. Shareholders can vote through:

  • NSDL e-Voting website: https://www.evoting.nsdl.com/
  • CDSL's Easi/Easiest facility for demat account holders
  • NSDL Mobile App "NSDL Speede"

The cut-off date for determining shareholder eligibility is Friday, May 22, 2026. Only shareholders registered as of this date are entitled to vote.

Key Voting Outcomes and Scrutinizer Appointment

The company has appointed Mr. Jaymin Modi (Membership No. ACS 44248 and Certificate of Practice No. 16948), Partner of M/s. Jaymin Modi & Co., Practicing Company Secretaries, Mumbai, as the Scrutinizer to ensure a fair and transparent voting process.

The Scrutinizer will submit his report to the Chairperson upon completion of vote scrutiny. The results of the postal ballot will be announced on or before Tuesday, June 30, 2026, and will be communicated to both stock exchanges (BSE and NSE) and uploaded on the company's website (www.baluindustries.com).

Compliance with Laws and Regulations

The notice confirms compliance with:

  • Sections 108, 110 and other applicable provisions of the Companies Act, 2013
  • Companies (Management and Administration) Rules, 2014
  • Multiple MCA Circulars (14/2020, 17/2020, 20/2020, 22/2020, 33/2020, 39/2020, 10/2021, 20/2021, 3/2022, 11/2022, 09/2023, 09/2024)
  • Secretarial Standard on General Meetings (SS-2)
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated 9th December 2020

Additional Information

Both independent directors have confirmed their eligibility and independence as required under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI Listing Regulations. They are registered in the Independent Director's databank maintained by the Indian Institute of Corporate Affairs.

The company has received notices from shareholders pursuant to Section 160 of the Companies Act proposing both directors' candidature. Both directors hold no shares in the company and will not receive any remuneration for their directorship.

Director Profiles:

  • Mr. Radhey Shyam Soni: 69 years, M.Com qualification, over 45 years' experience in banking and financial consultancy. Serves as Chairman of Audit Committee, Nomination and Remuneration Committee, Stakeholder's Relationship Committee and Corporate Social Responsibility Committee.
  • Mrs. Shalu Laxmanraj Bhandari: 47 years, Company Secretary qualification, extensive expertise in corporate laws, secretarial compliance, and governance. Serves as Member of Audit Committee, Nomination and Remuneration Committee and Stakeholder's Relationship Committee.