BF Utilities Approves Appointment of Independent Director Mrs. Mugdha Vartak

BF Utilities Limited has announced that its members have duly approved the appointment of Mrs. Mugdha Rajesh Vartak as a Non-Executive, Independent Director. The approval came through a Special Resolution passed via a postal ballot e-voting process, which concluded on May 06, 2026. The disclosure was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on May 07, 2026.

Appointment Details

Mrs. Mugdha Rajesh Vartak (DIN: 11613408) has been appointed as an Additional, Non-Executive, Independent Director of the Company, not liable to retire by rotation, with effect from March 17, 2026. She is a strategic HR leader with over 20 years of experience across IT, Consulting, Automotive, and Education sectors. Mrs. Vartak holds an Executive MBA in Strategic HR Management from IIM Calcutta and is an IRCA certified ISO 9001:2015 Lead Auditor.

E-Voting Summary

The postal ballot process saw participation from shareholders determined as of the cut-off date, March 31, 2026. The e-voting period commenced on April 07, 2026, and concluded on May 06, 2026. The resolution was passed with the requisite majority during this period.

Parameter	Details
Resolution	Appointment of Mrs. Mugdha Rajesh Vartak as Independent Director
E-Voting Start	Tuesday, April 07, 2026, 9:00 a.m. (IST)
E-Voting End	Wednesday, May 06, 2026, 5:00 p.m. (IST)
Cut-off Date	Tuesday, March 31, 2026
Appointment Effective Date	March 17, 2026

Governance and Disclosures

The Company confirmed that Mrs. Vartak is not related to any other Director or Key Managerial Personnel on the Board and is not debarred from holding the office of a Director by any SEBI order or other authority. The detailed voting results and the Scrutinizer's Report have been filed with the Stock Exchanges and are available on the Company's website and the NSDL e-voting portal.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.19%	+4.97%	+40.50%	-13.67%	-17.19%	+116.24%

BF Utilities Limited has filed a regulatory disclosure with the National Stock Exchange of India Ltd. and BSE Limited, dated April 3, 2026, declaring that no encumbrance has been created on the aggregate shareholding held by its promoter and promoter group during Financial Year 2025-26. The declaration has been submitted in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Declaration Under SEBI Takeover Regulations

The disclosure was made by B.N. Kalyani on behalf of himself and all other individuals and entities constituting the promoter group of BF Utilities Limited. The declaration confirms that, as per information on records, no encumbrance — direct or indirect — has been made on the aggregate shareholding held by the promoter or promoter group, other than those already disclosed during Financial Year 2025-26.

Promoter Group Entities Covered Under the Declaration

The declaration encompasses a total of 26 individuals and entities forming part of the promoter group. The following table details all entities and individuals on whose behalf the declaration has been submitted:

Sr. No.:	Name of Entity/Person	Category
1.	Mr. B. N. Kalyani	Promoter
2.	Ajinkya Investment & Trading Company	Promoter Group
3.	Kalyani Investment Company Ltd.	Promoter Group
4.	KSL Holdings Pvt. Ltd.	Promoter Group
5.	PIH Finvest Co. Ltd.	Promoter Group
6.	BF Investment Ltd.	Promoter Group
7.	Jannhavi Investment Pvt. Ltd.	Promoter Group
8.	Sundaram Trading and Investment Pvt. Ltd.	Promoter Group
9.	Rajgad Trading Co. Pvt. Ltd.	Promoter Group
10.	Kalyani Consultants Pvt. Ltd.	Promoter Group
11.	Dandakaranya Investment & Trading Pvt. Ltd.	Promoter Group
12.	Campanula Investment & Finance Pvt. Ltd.	Promoter Group
13.	Cornflower Investment & Finance Pvt. Ltd.	Promoter Group
14.	Hastinapur Investment & Trading Pvt. Ltd.	Promoter Group
15.	Dronacharya Investment & Trading Pvt. Ltd.	Promoter Group
16.	Aboli Investment Pvt. Ltd.	Promoter Group
17.	Kalyani Exports & Investments Pvt. Ltd.	Promoter Group
18.	Babasaheb Kalyani Family Trust	Promoter Group
19.	Mr. Gaurishankar Neelkanth Kalyani	Promoter Group
20.	Mr. Ashok Kumar Kheny	Promoter Group
21.	Mrs. Sunita Babasaheb Kalyani	Promoter Group
22.	Mrs. Rohini Gaurishankar Kalyani	Promoter Group
23.	Dr. Mira Kheny	Promoter Group
24.	Mrs. Sugandha Jai Hiremath	Promoter Group
25.	Mr. Amit Babasaheb Kalyani	Promoter Group
26.	Mrs. Deeksha Amit Kalyani	Promoter Group

Compliance and Disclosure

The declaration was addressed to both the National Stock Exchange of India Ltd. and BSE Limited, fulfilling the annual disclosure obligation mandated under SEBI's Substantial Acquisition of Shares and Takeovers Regulations. The filing was signed by B.N. Kalyani and submitted on behalf of the entire promoter group of BF Utilities Limited, headquartered at Mundhwa, Pune Cantonment, Pune.