Asian Tea & Exports Limited submitted its postal ballot notice to stock exchanges on April 2, 2026, following the board meeting decisions made on March 26, 2026. The company has established a comprehensive e-voting schedule for shareholders to approve the appointment of Mr. Kuldeepak Bansal as Independent Director through remote electronic voting.

Postal Ballot Notice Submission and Voting Schedule

The company formally submitted the postal ballot notice to BSE Limited and Calcutta Stock Exchange Limited under Regulation 30 of SEBI LODR, providing shareholders with a detailed voting timeline and process guidelines.

The postal ballot notice will be sent electronically to shareholders whose email addresses are registered with the company or depositories. The notice is also available on the company's website, stock exchange websites, and NSDL's e-voting platform.

Director Appointment Details

The board had approved the appointment of Mr. Kuldeepak Bansal as Additional Director (Non-Executive & Independent) on March 26, 2026, subject to shareholder approval through the postal ballot process.

Mr. Kuldeepak Bansal holds an MBA degree and brings over 15 years of experience in marketing, production, and finance. He has held senior managerial positions in various organizations and possesses expertise in strategic planning, corporate governance, financial oversight, risk management, and regulatory compliance.

Committee Reconstitution and Governance Changes

Following the board composition changes, the company reconstituted its Nomination and Remuneration Committee effective March 26, 2026, ensuring compliance with Section 178 of the Companies Act, 2013.

The board also accepted Mr. Manish Jajodia's resignation from the board, effective at the close of business hours on March 26, 2026, due to personal reasons as stated in his resignation letter submitted on March 18, 2026.

E-voting Process and Scrutinizer Appointment

The company has appointed CS Puja Pujari (COP No: 20171, Membership No: 13102) as the scrutinizer to conduct the postal ballot through the e-voting process in a fair and transparent manner. The e-voting will be conducted through National Securities Depository Limited (NSDL) platform.

Shareholders can access the e-voting system through various methods including NSDL e-services, demat account login through depositories, or direct NSDL website access. The company has provided comprehensive instructions for different categories of shareholders holding securities in demat or physical mode.

Regulatory Compliance and Communication

All disclosures have been made pursuant to Regulation 30 of SEBI LODR Regulations. The company communicated the postal ballot submission to both stock exchanges where its shares are listed.

The results of the remote e-voting along with the scrutinizer's report will be communicated to the stock exchanges and displayed on the company's website within two working days from the conclusion of e-voting. The date of declaration of results will be deemed as the date of passing the resolution.

Asian tea & exports Limited has informed stock exchanges about a significant inter-se transfer of equity shares between promoter group entities. The company received intimations on 11th March, 2026, regarding the transfer of 28,35,982 equity shares, representing 11.37% of the total shareholding.

Transfer Details and Regulatory Compliance

The share transfer was executed on 10th March, 2026, through off-market transfer via Depository Instruction Slip (DIS). This transaction occurred pursuant to a Scheme of Amalgamation sanctioned by the Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, through an order dated 19th June, 2025.

The disclosure was made under Regulation 29(2) & 29(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring compliance with regulatory requirements for promoter group transactions.

Merger-Driven Shareholding Changes

The transfer resulted from the merger of Greenex Chemicals Private Limited (transferor company) with IBM Finance and Investment Private Limited (transferee company). Both entities are members of the promoter group of Asian Tea & Exports Limited.

Consequently, Greenex Chemicals Private Limited's entire shareholding in Asian Tea & Exports Limited was vested in IBM Finance and Investment Private Limited, effective from the transfer date.

Corporate Structure and Documentation

Both companies involved in the transaction maintain their registered addresses at Sikkim Commerce House, 4/1, Middleton Street, Kolkata – 700 071. The transfer was properly documented with regulatory disclosures submitted to the company's compliance officer as required under SEBI regulations.

The transaction represents a strategic restructuring within the promoter group, consolidating shareholding under IBM Finance and Investment Private Limited while maintaining the overall promoter group stake in Asian Tea & Exports Limited. The company has duly informed BSE Limited and Calcutta Stock Exchange Limited about this development, ensuring transparency and regulatory compliance.