Zodiac Energy Limited has issued a Postal Ballot Notice to seek shareholder approval for four resolutions through remote e-voting process. The notice is being sent electronically to members whose email addresses are registered with the Registrar and Share Transfer Agent M/s. MUFG Intime India Private Limited and depositories (NSDL and CDSL) as of the cut-off date June 12, 2026.

Key Dates

  • Cut-off date for eligibility: Friday, June 12, 2026
  • Remote e-voting period: Friday, June 19, 2026 (9:00 AM IST) to Sunday, July 19, 2026 (5:00 PM IST)
  • Results announcement: Within 2 working days after e-voting conclusion

Voting Arrangements

The company has engaged NSDL for remote e-voting services. M/s. SCS & Co. LLP has been appointed as Scrutinizer to conduct the postal ballot process. The notice is available on the company website www.zodiacenergy.com and will also be available on stock exchange websites (NSE and BSE) and NSDL's e-voting website.

Agenda Items

Item 1: Re-appointment of Mr. Rakesh Arvindbhai Patel (DIN: 00373019) as Independent Director

  • Special Resolution required
  • Current term expires: August 31, 2026
  • Proposed second term: September 1, 2026 to August 31, 2031 (5 years)
  • Recommended by Nomination and Remuneration Committee on June 15, 2026
  • Qualifications: Electronic Engineering background
  • Experience: Over 25 years in food product exports, serves as Whole-Time Director of spices manufacturing company
  • Skills: Industrial policy, international business operations, R&D, strategic management

Item 2: Re-appointment of Mr. Ambar Jayantilal Patel (DIN: 00050042) as Independent Director

  • Special Resolution required
  • Current term expires: August 31, 2026
  • Proposed second term: September 1, 2026 to August 31, 2031 (5 years)
  • Recommended by Nomination and Remuneration Committee on June 15, 2026
  • Experience: 43 years in business management and operations
  • Skills: Corporate management, strategic leadership, manufacturing operations, project management

Item 3: Regularization of Mr. Dhaval Shah (DIN: 07933310) as Non-Executive Non-Independent Director

  • Ordinary Resolution required
  • Originally appointed as Additional Director (Non-Executive Independent) on September 8, 2017
  • Designation changed from Independent to Non-Independent Director effective April 23, 2026
  • Qualifications: Fellow Chartered Accountant (FCA), CFA Charterholder, LL.B.
  • Experience: Nearly two decades in finance, banking, credit assessment, risk management
  • Previous associations: ICICI Bank, Citibank, CARE Ratings, Reliance Group, Hero FinCorp
  • Also promoter of VDCAP Finserv Private Limited (NBFC)

Item 4: Approval for Increase in Remuneration of Mr. Jay Kunjbihari Shah (Associate Director)

  • Ordinary Resolution required
  • Relationship: Son of Mr. Kunjbihari Shah (Managing Director) and Mrs. Parul Kunjbihari Shah (Whole Time Director)
  • Proposed remuneration: ₹5,00,000 per month (inclusive of salary, perquisites, benefits, incentives and allowances)
  • Effective from: July 1, 2026
  • Qualifications: Bachelor's in Mechanical Engineering, Master's in Engineering Management from Northeastern University, Boston
  • Joined company in 2020 as Executive Assistant to Managing Director
  • Currently leads Commercial Operations, overseeing 300+ MW solar power installations

Financial Impact

No specific financial impact quantified beyond the remuneration approval for Mr. Jay Kunjbihari Shah at ₹5,00,000 per month.