Coral Laboratories Limited has successfully concluded its postal ballot e-voting process, passing a special resolution for the re-appointment of Mr. Malay Doshi (DIN: 09186000) as an Independent Director. The voting process was conducted through the National Securities Depository Limited (NSDL) e-voting platform and concluded on Wednesday, May 6, 2026, at 5:00 P.M. (IST). The results were declared and communicated to BSE Limited on May 7, 2026, by Sushma Kadkade, Director & CFO.

Postal Ballot Process Overview

The postal ballot notice was dated April 2, 2026, with the voting period commencing on Tuesday, April 7, 2026, at 9:00 A.M. (IST). The cut-off date for determining voting rights was April 3, 2026, on which the total number of shareholders stood at 4,174. Voting rights were reckoned on the paid-up value of equity shares registered in the name of shareholders as on the cut-off date. The Notice of Postal Ballot along with voting instructions was sent by electronic mode to members whose email addresses were registered with the Company, Depository Participants, or Depositories.

Voting Results for Resolution 1 – Special Resolution

The special resolution for the re-appointment of Mr. Malay Doshi as an Independent Director was passed with an overwhelming majority. The detailed category-wise voting results are presented below:

Votes in Favour and Against

The scrutinizer's report further detailed the member-wise breakdown of votes cast:

No invalid votes were recorded across any shareholder category, including Promoter and Promoter Group, Public Institutions, and Public – Non Institutions.

Scrutinizer's Report

The scrutinizing process was conducted by Sumit Khanna, Designated Partner of M/s SARK & Associates LLP (Company Secretaries), appointed as the Scrutinizer for the postal ballot e-voting process. The firm holds Firm Unique Code: L2023MH014600 and Peer Review Certificate No.: 1898/2022. The scrutinizer confirmed that the resolution was passed as a Special Resolution in compliance with Section 110 of the Companies Act, 2013, read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014, as amended, and in accordance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. All relevant records of electronic voting are to remain in the scrutinizer's custody until the Chairman approves and signs the Minutes of the Postal Ballot voting process.

Coral Laboratories Limited has received a formal notice under the Micro, Small and Medium Enterprises Development Act, 2006, regarding a payment dispute with a vendor. The pharmaceutical company disclosed this development to BSE on April 27, 2026, in compliance with SEBI listing regulations.

Notice Details and Authority

The Micro and Small Enterprises Facilitation Council (MSEFC) in Surat issued the notice under Section 18 of the MSMED Act, 2006. The reference case has been assigned number ED-2026-0016057 OF 2026 and involves allegations of non-receipt of payments by the petitioner.

Financial Impact and Claims

The dispute centers around contractual claims arising from work execution, with specific allegations related to payment delays. The financial implications of this notice are detailed below:

Nature of Dispute

The allegations involve multiple aspects of the contractual relationship between the parties. Key areas of contention include:

• Alleged non-receipt of payments for executed works
• Various contractual claims related to project execution
• Disputes over scope, billing and related operational issues
• Payment terms and settlement matters

Company's Response and Position

Coral Laboratories has maintained a clear stance regarding the allegations. The company believes the claims lack merit and has outlined its response strategy. Management stated they are currently reviewing the matter comprehensively to determine appropriate legal steps.

The company's position emphasizes that the claims are not tenable, indicating confidence in their contractual compliance. This suggests the dispute may involve differing interpretations of contract terms or execution standards rather than clear-cut payment defaults.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as required under the applicable SEBI circular dated July 13, 2023, ensuring full transparency with stakeholders regarding potential legal proceedings.

While the financial impact cannot be ascertained at this stage according to the company's assessment, the relatively modest claim amount of ₹204,853.20 suggests limited material impact on the company's overall financial position. The company continues to evaluate the matter as legal proceedings may develop.