Associated Coaters Limited has successfully completed its postal ballot process, with shareholders unanimously approving three key corporate governance resolutions on 16th March, 2026. The company announced that all three ordinary resolutions received 100% approval from voting shareholders, demonstrating strong stakeholder confidence in the proposed leadership changes.

Postal Ballot Results Overview

The postal ballot process, conducted from 12th February to 13th March, 2026, resulted in complete shareholder consensus across all three resolutions. Mr. Rahul Agarwal (FCS: 13614 and COP No.: 23142), serving as the appointed scrutinizer, submitted his report confirming the unanimous approval of all proposed changes.

Leadership Restructuring Approved

Shareholders approved three significant changes to the company's leadership structure. The first resolution involved changing Ms. Navneet Kaur's (DIN: 07980468) designation from Non-Executive Director to Whole Time Director. The second resolution approved Mr. Harbhajan Singh Thethi's (DIN: 10416459) transition from Whole Time Director to Non-Executive Director. The third resolution appointed Ms. Navneet Kaur as Chairperson of the company.

Detailed Resolution Results

Each of the three resolutions received identical voting support, reflecting unanimous shareholder confidence in the proposed changes.

Voting Participation Analysis

The postal ballot demonstrated substantial participation from the promoter group while maintaining representation from public shareholders. The voting pattern reflected strong institutional confidence in the proposed governance changes.

Regulatory Compliance and Process

The postal ballot process adhered to all regulatory requirements under Section 110 of the Companies Act, 2013, and the Companies (Management and Administration) Rules, 2014. The company dispatched the postal ballot notice dated 10th February, 2026, through electronic means to all eligible shareholders. The notice was published in "Business Standard" (English) and "Aajkal" (Bengali) newspapers on 12th February, 2026, ensuring proper disclosure compliance under Regulation 30 of SEBI Listing Regulations.

The electronic voting platform provided by National Securities Depository Limited (NSDL) facilitated the entire voting process. The cut-off date for determining eligible voters was set as 6th February, 2026, with a total of 326 members on record. The scrutinizer's report confirmed that all votes cast were valid and met the requisite majority requirements under the Companies Act provisions.

Associated coaters Limited has issued a comprehensive postal ballot notice to its shareholders, outlining significant board restructuring proposals that will be decided through remote electronic voting. The company, which specializes in powder coating and wood finish on metals, has set the framework for members to participate in crucial governance decisions.

Postal Ballot Timeline and Process

The postal ballot process follows a structured timeline with specific dates for member participation:

The company has adopted an electronic-only approach for the postal ballot, aligning with Ministry of Corporate Affairs circulars and SEBI regulations. Members whose names appear in the Register of Members as on Friday, February 6, 2026, are eligible to participate in the voting process.

Key Board Restructuring Proposals

The postal ballot encompasses three significant resolutions that will reshape the company's leadership structure. Each proposal requires member approval through ordinary resolutions.

Ms. Navneet Kaur's Elevation to Executive Role

The first resolution proposes changing Ms. Navneet Kaur's (DIN: 07980468) designation from Non-Executive Director to Whole Time Director, effective April 1, 2026. Her appointment spans five consecutive years until March 31, 2031.

Remuneration Structure:

The remuneration package includes comprehensive perquisites and allowances, with increments subject to board approval within statutory limits under Section 197 and Schedule V of the Companies Act, 2013.

Leadership Transition for Mr. Harbhajan Singh Thethi

The second resolution addresses Mr. Harbhajan Singh Thethi's (DIN: 10416459) transition from Whole Time Director and Chairperson to Non-Executive Director, effective April 1, 2026. This change reflects his desire to step down from active executive responsibilities while continuing to contribute in a non-executive capacity.

Upon re-designation, Mr. Thethi will cease executive functions and receive only sitting fees in accordance with applicable regulations, rather than managerial remuneration.

New Chairperson Appointment

The third resolution proposes appointing Ms. Navneet Kaur as Chairperson of the company, effective April 1, 2026. This appointment complements her elevation to Whole Time Director and positions her to lead board meetings and member meetings while exercising powers assigned by the Board of Directors.

Voting Mechanism and Member Guidelines

The company has implemented a comprehensive e-voting system through NSDL, providing multiple access methods for different categories of shareholders. Individual shareholders holding securities in demat mode can vote through their depository accounts, while others can access the NSDL e-voting portal directly.

Institutional shareholders must submit relevant board resolutions and authority letters to the scrutinizer at rknandco1@gmail.com . The company emphasizes password security and provides helpdesk support for technical issues during the voting period.

Corporate Governance and Compliance

The postal ballot notice demonstrates Associated Coaters' commitment to transparent corporate governance, following all regulatory requirements under the Companies Act, 2013, and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The board has recommended all three resolutions for member approval, citing the beneficial impact on company operations and strategic direction.

The proposed changes reflect a planned leadership succession that maintains continuity while bringing fresh executive leadership to drive the company's growth in the powder coating and metal finishing industry.