Ballarpur Industries Limited convened its 79th Annual General Meeting (AGM) on Monday, May 11, 2026, via Video Conferencing / Other Audio-Visual Means (VC/OAVM). The meeting commenced at 1:05 P.M. (IST) and concluded at 1:26 P.M. (IST), with the deemed venue being the company's registered office at 602, 6th Floor, Boston House, Suren Road, Andheri (East), Mumbai – 400093. A total of 67,151 shareholders were on record as of the cut-off date of May 04, 2026, with 1 promoter and 48 public shareholders attending through video conferencing. All three ordinary resolutions placed before the members were passed with the requisite majority.

Chairman's Address and Key Developments

Mr. Hardik Bharat Patel, Chairman & Whole-Time Director, presided over the meeting and welcomed members in attendance. He briefed members on significant corporate developments, including the completion of the Corporate Insolvency Resolution Process (CIRP) and the implementation of the approved Resolution Plan submitted by Finquest Financial Solutions Private Limited, as sanctioned by the Hon'ble NCLT, Mumbai Bench, vide order dated March 31, 2023. The Chairman also apprised members of the constitution and tenure of the Monitoring Committee, the takeover of the company by the Resolution Applicant, the subsequent appointment of the new Board of Directors, and efforts by the new management toward revival of operations and preparation of pending financial statements. He further noted that the Auditors' Report and Secretarial Audit Report contained certain observations and qualifications, which were duly explained in the Annual Report.

Board and Key Executives in Attendance

The following directors and key officials were present at the meeting:

E-Voting Process

Ms. Surbhi Dinesh Chachada briefed members on the e-voting facility provided pursuant to Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through the NSDL platform. The company fixed May 04, 2026 as the cut-off date for determining eligible voters. Remote e-voting commenced at 9:00 A.M. (IST) on Wednesday, May 06, 2026, and concluded at 5:00 P.M. (IST) on Sunday, May 10, 2026. Mr. Viral Sanghavi of M/s. Viral Sanghavi & Associates (Membership No. FCS 10331 & CP No. 9035) was appointed as Scrutinizer to oversee the remote e-voting and e-voting process during the AGM in a fair and transparent manner. The votes cast through remote e-voting and e-voting at the AGM were unblocked at 01:39 P.M. on Monday, May 11, 2026, after the conclusion of the meeting.

Business Transacted

Three ordinary resolutions were placed before the members as set out in the AGM Notice. The overall shareholder participation stood at 90.1193% of outstanding shares, with 49,565,641 total votes polled out of 55,000,000 shares. The following resolutions were considered:

Voting Results

CS Viral Sanghavi, in his Consolidated Scrutinizer's Report dated May 12, 2026, confirmed that all three resolutions were passed with the requisite majority. The detailed voting outcome for each resolution is presented below.

Resolution 1 – Adoption of FY24 Financial Statements

113 members voted in favour with 49,565,574 valid votes (100.00%), while 4 members voted against with 67 votes (0.00%). No invalid votes were recorded.

Resolution 2 – Re-appointment of Mr. Parashiva Murthy B S

110 members voted in favour with 49,564,607 valid votes (100.00%), while 6 members voted against with 1,028 votes (0.00%). No invalid votes were recorded.

Resolution 3 – Ratification of Remuneration of Cost Auditors

109 members voted in favour with 49,565,559 valid votes (100.00%), while 7 members voted against with 76 votes (0.00%). No invalid votes were recorded.

Shareholder Queries and Closure

Ms. Surbhi Dinesh Chachada informed members that shareholders had been given the opportunity to submit queries via email ahead of the AGM. As the registered speaker shareholder did not join the meeting, members were requested to direct their queries to sectdiv@biltpaper.in . The Chairman thanked members for their continued cooperation and expressed gratitude to all stakeholders, employees, government authorities, and regulatory bodies before formally closing the meeting at 1:26 P.M. (IST). The voting results along with the Scrutinizer's Report have been submitted to BSE Limited and National Stock Exchange of India Limited, and are being uploaded on the company's website at www.biltpaper.in and on the NSDL website, within the statutory time limits.

Ballarpur Industries Limited submitted the voting results of its 80th Annual General Meeting (AGM) to BSE Limited and National Stock Exchange of India Limited on May 13, 2026. The meeting was held on Monday, May 11, 2026, through Video Conferencing / Other Audio-Visual Means (VC/OAVM), deemed to be at the company's registered office in Mumbai. The company disclosed the detailed voting results and the Consolidated Scrutinizer's Report dated May 12, 2026, confirming the passage of all business transacted.

Meeting Proceedings and Attendance

Mr. Hardik Bharat Patel, Chairman and Whole-Time Director, presided over the meeting, which commenced at 2:03 P.M. and concluded at 2:28 P.M. (IST). The proceedings were conducted in compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The e-voting facility was provided through the NSDL platform, with remote e-voting occurring from May 6, 2026, to May 10, 2026. The record date for determining shareholder eligibility was May 4, 2026, with a total of 67,151 shareholders on record. Attendance via video conferencing included 1 shareholder from the Promoter and Promoter Group and 48 from the public.

Business Transacted

All six resolutions set forth in the AGM notice were passed with the requisite majority. The resolutions included the adoption of audited financial statements for the financial year ended March 31, 2025, the re-appointment of Mr. Hardik Bharat Patel as Whole-Time Director, the appointment of Statutory Auditors, and the appointment of Ms. Shweta Jain as Non-Executive Independent Director. Additional resolutions concerned the rectification of Cost Auditors' remuneration and the appointment of Secretarial Auditors.

Voting Results Summary

The Consolidated Scrutinizer's Report, prepared by CS Viral Sanghavi of M/s. Viral Sanghavi & Associates, verified the outcomes. For the re-appointment of Mr. Hardik Bharat Patel, the Promoter and Promoter Group were classified as interested parties, resulting in 28,050,000 votes being classified as invalid. Consequently, 21,515,198 valid votes were polled, representing 39.12% of outstanding shares. The remaining resolutions saw strong approval, with votes in favour ranging from approximately 99.98% to 100% of valid votes polled.

The Chairman addressed the members, highlighting the successful completion of the Corporate Insolvency Resolution Process (CIRP) and the recommencement of operations at the Shree Gopal Unit in Yamuna Nagar. The voting results and Scrutinizer's Report have been uploaded to the company's website.