Bhandari Hosiery Exports Limited has accepted the resignation of Shilpa Tiwari as its Company Secretary and Compliance Officer. The departure is effective from the close of business hours on October 17, 2026, citing personal reasons as the primary cause for the change in Key Managerial Personnel.

Resignation details and timeline

The company informed stock exchanges that Tiwari tendered her resignation on October 10, 2026. She will continue to discharge her duties as Company Secretary and Compliance Officer until her last working day. The management confirmed that the resignation was accepted by the Board of Directors.

Tiwari also stepped down from her roles as Nodal Officer and Secretary to all Board Committees. The company stated it is currently in the process of identifying a suitable replacement for the position and will inform the exchanges once a successor is appointed.

Regulatory compliance and disclosures

The intimation was filed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure included details required under SEBI Master Circular no. SEBI/HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026.

The resignation letter submitted by Tiwari confirmed there were no other material reasons for her departure other than those mentioned. She expressed gratitude to the Board Members for their support during her tenure. Nitin Bhandari, Managing Director, signed the digital submission to the exchanges.

Bhandari Hosiery Exports shareholders approved a final dividend of ₹0.01 per share and reappointed Nitin Bhandari as CMD at its 33rd AGM on September 15, 2026. While most resolutions passed with near-unanimous support, the proposal to increase the CMD's remuneration faced notable opposition from public investors.

The Ludhiana-based hosiery exporter held the meeting at its registered office in Meharban village. The Board had recommended the 1% dividend in May 2026. Shareholders also adopted the audited financial statements for FY26 and reappointed Vikas Nayar by rotation.

Voting Results Overview

All five resolutions were passed via remote e-voting and physical polling. A total of 146,622,584 votes were polled across all resolutions, representing approximately 44.04% of outstanding shares. The promoter group held 139,284,056 shares (99.96% participation), while public non-institutional shareholders held 193,672,377 shares.

Dissent on Remuneration Hike

The only resolution to face meaningful dissent was the special resolution to increase Mr. Bhandari's remuneration. While promoters voted unanimously in favour, public non-institutional shareholders voted against the measure by 130,760 votes via e-voting, representing 8.78% of their polled votes. Physical polling from this group showed 100% support. Overall, 99.91% of votes cast supported the pay increase.

Governance and Attendance

Mr. Nitin Bhandari presided over the proceedings. The quorum was established with 34 shareholders present in person or through proxy, comprising five promoter group members and 29 public shareholders. No shareholders attended via video conferencing.

Ms. Shilpa Tiwari, Company Secretary, confirmed that remote e-voting was conducted via CDSL from September 12 to September 14, 2026. M/s Rajeev Bhambri and Associates served as the scrutinizer. The scrutinizer’s report, dated September 16, 2026, confirmed no invalid votes were recorded across any resolution.

Board Representation

The following directors were present at the meeting:

• Nitin Bhandari, Chairman and Managing Director
• Vikas Nayar, Non-Executive Director
• Rajesh Kumar, Non-Executive Director
• Komal Kathuria, Independent Director
• Alka Gambhir, Independent Director
• Sharon Arora, Independent Director
• Rohit Kumar Chhabra, Independent Director