Bombay burmah trading Corporation Limited has successfully completed its postal ballot process for the re-appointment of Mr. Ness N. Wadia as Managing Director. The company announced the voting results on March 28, 2026, confirming that the special resolution was passed with the requisite majority on March 26, 2026.

Resolution Details

The postal ballot sought shareholder approval for the re-appointment of Mr. Ness N. Wadia (DIN: 00036049) as Managing Director for a period of 5 years with effect from April 1, 2026 to March 31, 2031, including approval of his remuneration package. The resolution was classified as a special resolution under the Companies Act, 2013.

Voting Process and Timeline

The postal ballot was conducted through remote e-voting facilitated by National Securities Depository Limited (NSDL). The voting process commenced at 9:00 a.m. IST on February 25, 2026, and concluded at 5:00 p.m. IST on March 26, 2026. Shareholders holding shares as on the cut-off date of February 20, 2026, were entitled to participate in the voting process.

Comprehensive Voting Results

The voting results demonstrated strong overall support for the resolution across different shareholder categories:

The overall voting participation reached 81.82% of outstanding shares, with 95.87% of polled votes supporting the resolution and only 4.13% voting against it.

Regulatory Compliance and Documentation

The postal ballot process was conducted in compliance with Section 108, 110 and other applicable provisions of the Companies Act, 2013, read with Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

TRP & Partners LLP, Company Secretaries, served as the scrutinizer for the voting process. CS Praveen Soni (FCS 6495), Designated Partner of TRP & Partners LLP, conducted the scrutiny and issued the consolidated scrutinizer's report confirming the voting results.

Interested Parties Disclosure

The company disclosed that Mr. Ness N. Wadia, Mr. Nusli N. Wadia, Mrs. Maureen N. Wadia, and Mr. Jehangir N. Wadia, who are related to each other, were interested parties in the special resolution. The postal ballot notice dated February 13, 2026, was sent electronically to shareholders whose email addresses were registered with the corporation or depositories, covering a total of 47,436 shareholders on the record date.

Bombay Burmah Trading Corporation Limited has completed the sale of its Dunsandle Estate tea plantation located in Village Sholur, Taluka Udhagamandalam, District Nilgiris, for a total consideration of Rs 120 crores. The company executed the Asset Purchase Agreement on March 27, 2026, and has received Rs 110 crores as initial payment, with the balance amount to be received as per the agreement terms.

Transaction Completion Details

The sale has been formalized through the execution of an Asset Purchase Agreement with multiple buyers comprising both individual purchasers and a corporate entity. The company confirmed that none of these buyers have any connection to the promoter or promoter group.

Buyer Information

The transaction involves five buyers, including four individual purchasers from the same family and one corporate entity. The company has confirmed that this does not constitute a related party transaction.

Estate Financial Contribution

The Dunsandle Estate had been a contributor to the company's operations in previous periods. The tea plantation generated revenue and contributed to the company's overall financial position before the sale.

Regulatory Compliance

The transaction has been executed in compliance with SEBI regulations under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The company made the necessary disclosures as required under the listing regulations and SEBI Circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. The sale represents a strategic business decision aimed at optimizing the company's asset portfolio while ensuring full regulatory compliance.