BGR Energy Systems Limited has initiated a postal ballot process to seek shareholder approval for increasing its authorised share capital and consequent alteration to the capital clause of its Memorandum of Association. The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process, which allows members to cast their votes electronically.

The remote e-voting period commences at 09:00 AM (IST) on June 6, 2026, and concludes at 05:00 PM (IST) on July 5, 2026. Shareholders holding shares in either physical or dematerialized form as of the cut-off date of May 29, 2026, are eligible to participate. No voting will be permitted beyond the stipulated deadline of 5.00 PM on July 5, 2026.

The company has dispatched the notice of the postal ballot via email to members who have registered their contact details. Consequently, physical copies of the notice, postal ballot form, and pre-paid business reply envelopes will not be distributed. Shareholders whose email or mobile numbers are not registered are required to update their details with the company or their depository participants to participate.

M/s. BP & Associates, Company Secretaries, has been appointed as the scrutinizer to ensure the postal ballot process is conducted fairly and transparently. The voting results, along with the scrutinizer's report, will be made available on the company's website and communicated to the stock exchanges on or before July 7, 2026.

Key Dates for Postal Ballot

BGR Energy Systems has received a rectification order from the Assistant Commissioner (ST), Ponneri Assessment Circle, under Section 161 of the TNGST Act, 2017, revising the tax demand to Rs. 94,29,93,514 for the assessment year 2018-19. The order, dated May 29, 2026, rectifies an earlier remanded order dated February 3, 2026. The revised demand comprises tax, interest, and penalty under the Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) heads.

The regulatory action follows a GST audit for FY 2018-19, where discrepancies were observed regarding tax liability on advances received and trade payables. The authority partly accepted the company's rectification application, revising the demand while confirming the balance liability concerning the specified contraventions.

Details of the Order

The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key particulars of the order are detailed below:

Violations and Impact

The alleged contraventions identified by the authority pertain to discrepancies observed during the GST audit. Specifically, these relate to tax liability on advances received and trade payables. While the authority revised the demand after considering the company's submissions, the balance demand regarding these items was confirmed.

BGR Energy Systems stated that there is no material financial impact on the company at this stage. Consequently, the company intends to file an appeal against the said rectification order to challenge the demand.