Bajaj Electricals Limited has successfully completed its postal ballot process on April 30, 2026, with both special resolutions receiving strong shareholder approval. The company disclosed the voting results pursuant to Regulation 44(3) of the SEBI Listing Regulations, demonstrating robust corporate governance practices.

Postal Ballot Process Overview

The postal ballot was conducted entirely through remote e-voting, reflecting the company's adoption of digital governance mechanisms. The process details are summarized below:

Resolution 1: Independent Director Appointment

The first special resolution for appointing Mr. Pramod Agrawal (DIN: 00279727) as an Independent Director received overwhelming support across all shareholder categories:

Resolution 2: Director Remuneration Approval

The second special resolution for approval of payment of remuneration to directors in case of absence or inadequacy of profits also secured majority approval:

Scrutinizer's Validation

The scrutinizer's report, issued by Mr. Vaibhav Dandawate of Makarand M. Joshi & Co., confirmed that both resolutions were passed with requisite majority on April 30, 2026. The report noted that there were no invalid votes cast and that voting rights on shares transferred to unclaimed or suspense accounts and Investor Education and Protection Fund remained frozen as per regulations.

Corporate Compliance

The postal ballot process was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and the SEBI Listing Regulations. The company published newspaper advertisements in "Free Press Journal" and "Navshakti" on March 27, 2026, ensuring proper disclosure to all stakeholders. The voting results have been uploaded on the company's website and MUFG's platform for transparency.

Bajaj Electricals Limited has successfully reduced its GST demand by over 95% following a favourable appeal order from tax authorities. The company received the revised order on April 22, 2026, bringing significant relief from the original assessment.

GST Demand Reduction Details

The Joint Commissioner, Secunderabad, Telangana issued the appeal order on April 22, 2026, which was received by the company at 12:17 p.m. the same day. The appellate authority considered the submissions made by Bajaj Electricals and passed a substantially reduced demand.

Background of GST Assessment

The original assessment order was issued on April 30, 2024, by the Deputy Commissioner, STU-1, Secunderabad, Telangana under section 73 of the GST Act, 2017. The demand was raised on account of alleged disallowance of GST input credit for FY 2018-19.

Management Response and Financial Impact

The management has accepted the revised demand under the appeal order and confirmed it has no intention of filing any further appeal. According to the company's disclosure, the financial impact will be limited to the extent of the revised demand and penalty.

Key aspects of the resolution include:

• Complete acceptance of the appellate authority's decision
• No further legal proceedings planned
• Minimal financial impact on company operations
• No effect on operational, financial, or other business activities

Regulatory Compliance

Bajaj Electricals made the disclosure under Regulation 30 of the SEBI Listing Regulations on April 23, 2026. The company's Chief Compliance Officer & Company Secretary, Prashant Dalvi, signed the regulatory filing, ensuring compliance with applicable listing requirements.

The successful appeal represents a significant reduction in the company's GST liability, with the revised demand being substantially lower than the original assessment.