The Board of Directors of the Company at its meeting held on 30th July 2026 proposed to conduct a Postal Ballot pursuant to Section 108 and Section 110 of the Companies Act, 2013 read with Rule 20 and Rule 22 of Companies (Management and Administration) Rules, 2014, as amended. The process was also conducted in accordance with multiple General Circulars issued by the Ministry of Corporate Affairs (MCA) and circulars issued by SEBI, including SEBI/HO/CFD/CMD2/CIR/P/2021/11 dated January 15, 2021 and SEBI/HO/CFD/CMD 2/CIR/P/2022/62 dated May 13, 2022, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The purpose was to seek member approval for special business as set out in the Postal Ballot notice dated 30th July 2026.
The Company provided e-voting facility to all members as on the cut-off date of Friday, 31st July 2026 and appointed National Securities Depository Limited (NSDL) as the agency to provide the e-voting platform. The dispatch of the Postal Ballot Notice via email was completed on Tuesday, 4th August 2026. The voting period commenced from Thursday, 6th August 2026 at 9:00 a.m. (IST) and concluded on Friday, 4th September 2026 at 5:00 p.m. (IST).
Ms. Riddhi Shah (ACS No. 20168, COP No. 17035), Practicing Company Secretary, was appointed as Scrutinizer for the process by the Board of Directors at its meeting held on 28th February 2026. The deemed date of the passing of the resolution is the last date of closure of the e-voting process, i.e., Friday, 4th September 2026 at 5:00 p.m. (IST).
Members were informed about the completion of the dispatch of the Postal Ballot Notice via a newspaper advertisement published on Wednesday, 5th August 2026 in Free Press Gujarat (English Edition) and Lokmitra (Gujarati Edition).
After scrutiny of all e-voting confirmations received by the deadline, the Scrutinizer submitted her report. The result was declared on Saturday, 5th September 2026 at the Registered Office of the Company (Forth Floor, Office No 404, White Pearls, Near Galaxy Circle, Pal Gam, Surat, Gujarat, 395009) by Mr. Ayush Dharmendrabhai Jasani, Vice Chairman & Managing Director, who was duly authorized by the Board.
The final result confirmed that the resolutions set out in the Postal Ballot Notice were passed with the requisite majority. The specific resolutions passed are:
1. Special Resolution: To approve raising of funds and issuance of securities through QIP and/or FCCB and/or ECB and/or any other permissible modes.
2. Special Resolution: To approve an increase in investment limits for Foreign Portfolio Investors and Non-Resident Indians/Overseas Citizens of India.
Financial impact not quantified in the disclosure.