Ashima Limited has submitted the newspaper advertisement for its postal ballot notice to the stock exchanges, confirming the publication in Western Times on May 28, 2026. The notice seeks shareholder approval for the appointment of an Independent Director and a related party transaction involving its subsidiary. The resolutions will be decided through remote e-voting, with the voting period scheduled from May 29, 2026, to June 27, 2026.

Appointment of Independent Director

The company proposes the appointment of Mr. Malay Jayendra Dalal (DIN: 01896746) as an Independent Director for a term of five consecutive years, commencing from May 1, 2026, to April 30, 2031. Mr. Dalal, a Fellow Chartered Accountant with over 35 years of experience, was initially appointed as an Additional Director on May 1, 2026. The Nomination and Remuneration Committee and the Board of Directors have recommended his appointment. The resolution requires approval as a Special Resolution.

Related Party Transaction Approval

Shareholders are also requested to approve a related party transaction between Ashima Capital Management Limited (ACML), a wholly owned subsidiary of Ashima Limited, and Saumya Construction Private Limited. The transaction involves the provision of Portfolio Management Services. The company seeks approval to enhance the aggregate value of these transactions to not exceeding ₹6.50 crore per year for the financial years 2026-27, 2027-28, and 2028-29. This supersedes the earlier approval of ₹6.00 crore per year. The Audit Committee reviewed and approved the incremental amount on May 23, 2026, noting that the transactions will be on an arm's length basis.

Key Dates and Voting Details

The cut-off date for determining shareholder eligibility for the postal ballot is May 22, 2026. The remote e-voting facility, provided by CDSL, will be available from 9:00 a.m. on May 29, 2026, until 5:00 p.m. on June 27, 2026. Mr. Tapan Shah, Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the voting process. The results of the postal ballot will be declared within two working days after the conclusion of e-voting.

Director and Key Managerial Personnel Interests

Mr. Malay Jayendra Dalal is interested in the resolution regarding his appointment. Regarding the related party transaction, Mr. Chintan Navnitlal Parikh (DIN: 00155225) and Mr. Krishnachintan Chintan Parikh (DIN: 07208067) have declared their interest. No other Directors or Key Managerial Personnel are interested in the resolutions, except to the extent of their shareholding in the company.

Ashima Limited has confirmed full compliance with the Securities and Exchange Board of India (SEBI) regulations for the financial year ended 31st March, 2026. The company submitted its Annual Secretarial Compliance Report to BSE Limited and National Stock Exchange of India Ltd, confirming adherence to material provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report, issued by Practicing Company Secretary Tapan Shah, validates the company's governance standards and regulatory adherence during the review period.

The certification process involved an examination of documents, records, filings, and the company's website. Tapan Shah reported that Ashima Limited maintained proper records under the provisions of the applicable regulations and circulars. The audit confirmed that no actions were taken against the listed entity, its promoters, directors, or subsidiaries by SEBI or stock exchanges during the financial year. Furthermore, no observations were issued in the previous report, rendering compliance on past observations inapplicable.

The compliance status covered various operational and governance aspects. The company confirmed that all applicable policies under SEBI Regulations were adopted by the board of directors and reviewed or updated as required. Ashima Limited maintained a functional website with timely dissemination of required documents. The report also verified that none of the company's directors were disqualified under section 164 of the Companies Act, 2013.

Compliance Status Overview

The following table summarizes the key compliance areas verified during the audit for FY26:

The report explicitly stated that there were no deviations from compliance requirements or additional non-compliances observed during the period. Consequently, the tables detailing deviations and remedial actions for previous observations were marked as not applicable. The company also confirmed compliance with the Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI) as notified by the Central Government.