Abate AS Industries Limited has issued a comprehensive postal ballot notice dated April 8, 2026, to seek shareholder approval for regularizing the appointment of Mr. Harikumar V as Independent Director. The company's Board of Directors passed a circular resolution approving the postal ballot process and establishing the framework for electronic voting.

Postal Ballot Process and Timeline

The company has established a structured timeline for the postal ballot process with specific dates for shareholder participation. The e-voting facility will be provided exclusively through electronic means, with no physical postal ballot forms being distributed to shareholders.

Director Appointment Details

Mr. Harikumar V was initially appointed as Additional Director (Independent category) on February 12, 2026, under Section 161 of the Companies Act, 2013. The postal ballot seeks to regularize his appointment as Independent Director for a five-year term.

Professional Background and Qualifications

Lt. Col. Velayudhanpillai Harikumar brings extensive experience spanning 35 years across military service and corporate leadership. His professional journey includes 20 years with the Indian Army in the Corps of Electronics and Mechanical Engineers (EME) and 15 years in corporate roles covering manufacturing operations, sales and marketing, and establishment of new facilities.

E-voting Process and Compliance

The postal ballot notice will be dispatched electronically to shareholders whose email addresses are registered with the company, depositories, or Registrar and Transfer Agent PURVA Sharegistry (India) Private Limited. The process complies with MCA Circulars and SEBI regulations, with voting conducted exclusively through remote e-voting.

Shareholders holding shares in both physical and demat form as on the cut-off date of April 3, 2026, are eligible to participate in the voting process. The company has appointed M/s. Lakshmmi Subramaniam & Associates as scrutinizer to ensure fair and transparent conduct of the postal ballot process.

Regulatory Compliance Framework

The disclosure has been made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Mr. Harikumar V is not debarred from holding office as Director by any SEBI order or other authorities. The resolution requires approval as a Special Resolution with requisite majority from shareholders.

Abate AS Industries Limited has received a disclosure under SEBI regulations regarding a substantial share acquisition by promoter group entity ASYA. The transaction represents a significant addition to the promoter group's stake in the BSE-listed company.

Transaction Details

ASYA executed an off-market acquisition of shares on March 23, 2026, adding a substantial portion to the promoter group holdings in the company. The acquirer belongs to the promoter/promoter group of Abate AS Industries.

Shareholding Changes

The acquisition resulted in ASYA establishing a new ownership position in the company. Following the completion of the transaction, ASYA now holds a 4.50% stake in Abate AS Industries.

Company Capital Structure

The company's equity share capital structure remained stable throughout the transaction period. The total voting capital and diluted share capital figures were consistent before and after the acquisition.

Regulatory Compliance

The disclosure was made in accordance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction was duly reported to BSE Limited, where the company's shares are listed. The formal disclosure was signed and dated March 24, 2026, from Perinthalamanna, ensuring compliance with regulatory timelines for substantial shareholding changes.