Filtron Engineers Ltd Announces Postal Ballot for Director Appointments and Corporate Restructuring

3 min read Updated on 20 Mar 2026, 03:46 PM

Reviewed by

Radhika SScanX News Team

AI Summary

Filtron Engineers Limited seeks shareholder approval through postal ballot for comprehensive corporate restructuring including appointment of Managing Directors Jayesh Rawal and Tarak Gor with Rs. 1.20 crore annual remuneration each, enhanced financial authorizations of Rs. 1,000 crores for borrowing and investments, registered office relocation from Pune to Mumbai, and business expansion into infrastructure and real estate development. The company has published regulatory advertisements in Business Standard and Nalanda Express newspapers, with e-voting scheduled from March 19 to April 17, 2026.

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Filtron Engineers Limited has announced a comprehensive postal ballot seeking shareholder approval for eight key resolutions that will reshape the company's leadership structure and operational framework. The postal ballot notice, dated March 18, 2026, outlines significant corporate governance changes and strategic initiatives.

Key Director Appointments

The company seeks approval for three critical director appointments, with two involving substantial remuneration packages:

Resolution	Appointee	Position	Remuneration	Type
1	Mr. Jayesh Sheshmal Rawal (DIN: 00464313)	Managing Director	Up to Rs. 1,20,00,000 per annum	Special Resolution
2	Mr. Tarak Bipinchandra Gor (DIN: 01550237)	Managing Director	Up to Rs. 1,20,00,000 per annum	Special Resolution
3	Mr. Ankit Jayesh Rawal (DIN: 09548261)	Non-Executive Director	Commission up to 1% of net profits	Ordinary Resolution

Both Managing Director appointments are for three-year terms from January 19, 2026, to January 18, 2029. Mr. Jayesh Rawal brings 27 years of experience as a Chartered Accountant, while Mr. Tarak Gor contributes 19 years of expertise in banking and finance. Mr. Ankit Rawal, son of Mr. Jayesh Rawal, holds an MBA in International Business with four years of operational experience.

Financial Authorization Enhancements

The postal ballot includes three significant financial resolutions to enhance the company's operational flexibility:

Authorization Type	Limit	Purpose
Borrowing Powers (Section 180(1)(c))	Rs. 1,000 crores	Enhanced borrowing capacity beyond paid-up capital and reserves
Security Creation (Section 180(1)(a))	Rs. 1,000 crores	Mortgage/charge creation on company assets
Loans & Investments (Section 186)	Rs. 1,000 crores	Strategic investments and lending activities

These authorizations will provide Filtron Engineers with substantial financial flexibility to pursue growth opportunities, fund working capital requirements, and support strategic initiatives.

Corporate Restructuring Initiatives

Two major structural changes are proposed for shareholder approval:

Registered Office Relocation: The company plans to shift its registered office from "Plot No. 36, WMDC Industrial Area, Ambethan Road, Chakan, Pune – 410501" to "206, Vardhaman Complex Premises CHS, LBS Marg, Vikhroli (West), Mumbai – 400083." This move will transfer jurisdiction from Registrar of Companies, Pune to Mumbai-I within Maharashtra.

Business Object Expansion: Filtron seeks to alter its Memorandum of Association to include new business activities such as infrastructure development on DBOT/BOOT/BOT basis, real estate development, construction contracting, IT-enabled services, and strategic investments. This expansion aligns with the company's diversification strategy beyond its traditional food industry equipment manufacturing.

Voting Process and Timeline

The remote e-voting process is structured as follows:

Parameter	Details
Cut-off Date	March 13, 2026
Voting Commencement	March 19, 2026 at 9.00 a.m.
Voting End	April 17, 2026 at 5.00 p.m.
Results Declaration	On or before April 20, 2026
Scrutinizer	Mr. Vijay Yadav, AVS & Associates

Central Depository Services Ltd (CDSL) will provide the e-voting platform, with the postal ballot notice available on the company's website at www.filtronindia.com and CDSL's portal at www.evotingindia.com .

Regulatory Compliance and Communication

The company has fulfilled its regulatory obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On March 20, 2026, Filtron Engineers submitted newspaper advertisements to BSE Limited regarding the postal ballot notice under Regulation 30. The advertisements were published in Business Standard (English daily) and Nalanda Express (regional daily newspaper), ensuring comprehensive stakeholder communication.

Managing Director Jayesh Rawal digitally signed the regulatory correspondence, demonstrating the company's commitment to transparent governance practices and compliance with listing requirements.

Company Performance Context

The appointments come as Filtron Engineers, established in 1982 and specializing in process equipment for dairy and food industries, seeks to strengthen its leadership team. The company's recent financial performance shows Total Sales of Rs. 25.00 lakhs in FY 24-25, compared to nil in previous years, though it reported losses with Profit After Tax of (Rs. 29.96 lakhs) in FY 24-25.

Shareholders holding shares in physical or dematerialized form as of the cut-off date are eligible to participate in the voting process, with detailed instructions provided for various categories of investors including individual demat holders and institutional shareholders.