Chrome Silicon Limited has called for a postal ballot to secure shareholder approval for the disposal of plant and machinery at its Ferro Alloy Plant located in Rudhraram Village, Telangana. The company's Board has determined that continuing operations at the unit is financially unsustainable due to persistent operational challenges, market volatility, and escalating power costs. An independent Chartered Engineer assessed the facility and concluded that restarting manufacturing operations is not viable, citing technological obsolescence and environmental constraints as key factors.

The proposed resolution seeks authorization under Section 180(1)(a) of the Companies Act, 2013, to dispose of the assets in their present "as is where is" condition. The Board intends to utilize the net proceeds from the sale to repay existing loans, reduce interest burden, or enhance working capital. While the plant and machinery are slated for disposal, the company plans to retain the land to explore alternative economic uses, aiming to generate sustainable value amidst rapid urbanization in the area.

Shareholders will vote on the special resolution through remote e-voting, facilitated by Central Depository Services (India) Ltd (CDSL). The e-voting period commences on June 22, 2026, at 9:00 AM IST and concludes on July 21, 2026, at 5:00 PM IST. M/s BSS & Associates, Company Secretaries, has been appointed as the Scrutinizer to oversee the voting process and ensure transparency. The results of the postal ballot are expected to be announced on or before July 23, 2026.

The explanatory statement highlights that the plant, originally equipped with Submerged Arc Furnace technology from Russia, suffered from design limitations that exposed components to extreme heat, restricting capacity to 60–70%. Furthermore, power tariffs increased from ₹5.50 to ₹8.00 per unit in 2023, significantly impacting production costs. With power accounting for nearly 80% of the finished product cost and the plant consuming approximately 8,500 units per ton of Ferro Silicon, the financial viability of the unit was severely compromised.

Key Details of the Postal Ballot

The Board of Directors recommends that shareholders approve the resolution to facilitate the strategic disposal of the unviable assets.

Chrome silicon Limited has announced the immediate resignation of Mr. Hirak Kumar Basu from his position as Independent Director, effective March 13, 2026. The company informed the BSE about this development in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Details and Tenure

Mr. Hirak Kumar Basu, holding Director Identification Number (DIN) 09701496, served as an Independent Director since August 12, 2022. In his resignation letter dated March 13, 2026, he cited personal reasons for stepping down from the board with immediate effect.

Committee Responsibilities Affected

With his resignation, Mr. Basu automatically ceased to hold his positions across multiple board committees where he served as both Chairman and member. His departure impacts the following committees:

• Nomination and Remuneration Committee (Chairman and Member)
• Audit Committee (Member)
• Risk Management Committee (Member)

Regulatory Compliance

The company has fulfilled its disclosure obligations under the listing regulations, providing comprehensive details as required by SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Mr. Basu confirmed that there are no material reasons for his resignation beyond those mentioned in his resignation letter.

Additional Disclosures

As part of the regulatory filing, the company disclosed that Mr. Basu does not hold directorships in any other listed entities. The resignation letter and all required documentation have been submitted to the exchange for record-keeping purposes.

The announcement was signed by Shivangi Tibrewala, Company Secretary and Compliance Officer of Chrome Silicon Limited, ensuring proper corporate governance procedures were followed throughout the resignation process.