Bengal Steel Industries Limited has released the final voting results for its 79th Annual General Meeting, confirming that shareholders approved all proposed resolutions with unanimous support.

The Scrutinizer's Report, issued by Ms. Vidhya Baid on September 2, 2026, details the outcome of the meeting held on August 31, 2026, at the company's registered office in Kolkata. The report confirms that both ordinary business resolutions were passed with a 100% affirmative vote cast entirely through the remote e-voting facility.

Voting Results

The voting process was conducted in compliance with Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014. Remote e-voting ran from August 28, 2026, at 9:00 am to August 30, 2026, at 5:00 pm. Physical ballot boxes were opened during the meeting but contained no votes, as all participating members utilized the electronic platform.

A total of four members voted, representing 35,74,748 shares. There were no votes cast against any resolution and no invalid votes recorded.

Key Resolutions Passed

Shareholders approved two ordinary business items:

• Adoption of the Standalone and Consolidated Audited Financial Statements for the financial year ended March 31, 2026, along with the Directors' and Auditor's Reports.
• Re-appointment of Mrs. Ritu Agarwal (DIN: 00006509) as a Director, retiring by rotation.

Meeting Proceedings

Mr. V.N. Agarwal served as Chairman of the meeting, which began promptly at 10:00 am with a quorum present from the start. Other directors present included Mr. Prakash Agarwal, Mrs. Ritu Agarwal, Mr. S.K. Roychowdhury, and Mr. B.K. Mawandia.

The Statutory Registers and documents required under the Companies Act, 2013 were available for inspection. Representatives of the Statutory and Secretarial Auditors, along with the Chairman of the Audit Committee and Nomination and Remuneration Committee, attended the proceedings. The Company Secretary & Chief Financial Officer also participated.

Ms. Vidhya Baid, a Practising Company Secretary, served as the Scrutinizer. The e-voting data was unblocked on September 2, 2026, in the presence of two independent witnesses, Mr. Sayan Jana and Mr. Anil Prasad. The final results have been submitted to the Bombay Stock Exchange Limited.

The National Company Law Tribunal (NCLT), Kolkata Bench, has admitted bengal steel industries to the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, marking a significant shift in the company's corporate status. The tribunal initiated the insolvency proceedings on August 3, 2026, appointing Rachna Jalaniya as the resolution professional to manage the process and oversee stakeholder claims.

Financial creditors are required to submit proof of their claims exclusively through electronic media by the deadline of September 3, 2026. Other creditors may submit their claims via physical post or electronic means within the same timeframe. The designated form for claim submission is available on the Central Information Database Repository (CIDR) website, ensuring standardized processing of creditor requests during the moratorium period.

Insolvency Timeline and Details

The CIRP framework establishes strict timelines for creditor participation and resolution planning. Financial creditors must adhere to the digital submission mandate, while operational and other creditors have flexibility in submission modes but remain bound by the September 3 cutoff.

Rachna Jalaniya, registered with the Insolvency and Bankruptcy Board of India (IBBI) under registration number IBBI/IPA-001/IP-P01572/2019-2020/12602, will coordinate with stakeholders from her office in Kolkata. Her contact details have been published for creditor verification and communication purposes.

Regulatory Compliance and Shareholder Actions

Concurrently, the company published newspaper advertisements in Financial Express and Ekdin on August 8, 2026, regarding its 79th Annual General Meeting (AGM). This disclosure was made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The AGM notice was mailed to registered members on August 7, 2026, with voting rights reckoned as of August 24, 2026.

E-voting for the AGM commenced on August 28, 2026, at 9:00 a.m. and concluded on August 30, 2026, at 5:00 p.m., facilitated by NSDL. Members who exercised e-voting were not entitled to cast votes again at the physical meeting. The register of members and share transfer books remained closed from August 25, 2026, to August 31, 2026, inclusive, to determine the list of eligible voters.

Environmental Clearance Hearing

The West Bengal Pollution Control Board (WBPCB) scheduled a public hearing for Bengal Steel Industries' proposed steel production project on September 16, 2026, at 11:00 a.m. The hearing is set to take place at the Huda Panchayat Samiti Hall in Purulia. This environmental clearance process is distinct from the ongoing insolvency proceedings but remains critical for the company's future operational viability if a resolution plan is approved.

What the Numbers Show

The initiation of CIRP indicates severe financial distress, likely stemming from an inability to service debt obligations. The appointment of a resolution professional signals that the company's existing management has lost control over decision-making, with authority transferring to the committee of creditors. The short window between insolvency admission (August 3) and the claim deadline (September 3) suggests an expedited timeline for creditor verification, which will directly impact the formulation of any potential resolution plan.