Meeting Details
This is a postal ballot process without a physical meeting. The remote e-voting period commences from 09:00 a.m. (IST) on Wednesday, 27th May, 2026 and ends at 05:00 p.m. (IST) on Thursday, 25th June, 2026. The cut-off date for determining eligible voters is Friday, 22nd May, 2026.
Proposed Resolutions and Implications
The notice contains five resolutions for shareholder approval:
Item 1: Ordinary Resolution to approve appointment of Mr. Arup Das (DIN: 08417965) as Director, liable to retire by rotation.
Item 2: Special Resolution to approve appointment of Mr. Arup Das as Executive Director - Engineering Business for one year effective April 1, 2026, with remuneration package of ₹1.20 crore CTC annually, including basic salary of ₹4,21,500 per month, house rent allowance of ₹2,10,782 per month, and special allowance of ₹2,10,213 per month.
Item 3: Special Resolution to approve appointment of Mr. Manoj Kumar Vijay (DIN: 00075792) as Independent Director for two years effective April 9, 2026. He currently serves as independent board member of Usha Martin Education & Solutions Limited and Peterhouse Investments India Limited.
Item 4: Ordinary Resolution to approve appointment of Mr. Sandeep Joseph Abraham (DIN: 11656222) as Director, liable to retire by rotation.
Item 5: Special Resolution to approve appointment of Mr. Sandeep Joseph Abraham as Managing Director & CEO - Home Appliance Division for five years effective April 9, 2026, with remuneration package of ₹3.25 crore CTC annually, including basic salary of ₹9,50,000 per month, house rent allowance of ₹4,75,000 per month, and conveyance allowance of ₹6,06,930 per month.
Voting Process and Methods
The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facility. Voting will be conducted exclusively through electronic means without physical polling. Members can vote through their demat accounts maintained with NSDL or CDSL, or through physical folio login credentials for those holding shares in physical form.
Key Voting Outcomes
Voting results are not yet available as this is a notice document. The scrutinizer will submit the report after completion of scrutiny, and results will be announced on or before Friday, 26th June, 2026. The results will be displayed on the company's website www.ifbindustries.com and communicated to the stock exchanges and depositories.
Scrutinizer's Role
Mr. A.K Labh, Practicing Company Secretary (Membership No. FCS 4848/CP-3238), Proprietor of M/s. A.K. Labh & Co., Company Secretaries, has been appointed as Scrutinizer for conducting the postal ballot process in a fair and transparent manner. The Scrutinizer's decision on the validity of the postal ballot shall be final.
Compliance with Laws and Regulations
The notice confirms compliance with Section 110 of the Companies Act, 2013 read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and various MCA Circulars including General Circular Nos. 14/2020, 17/2020, 20/2021, 3/2022, 11/2022, 09/2023, 09/2024, and 03/2025.
Additional Information
The company CIN is L51109WB1974PLC029637. For shares held in physical form, members need to provide folio number, name, scanned copies of share certificates, PAN, and AADHAR to investors@ifbglobal.com to register for e-voting. Institutional shareholders must submit board resolutions/authority letters to the scrutinizer at aklabhcs@gmail.com with copy to evoting@nsdl.com.