Garbi Finvest Limited has announced a postal ballot seeking shareholder approval for the appointment of three directors to its Board. The company issued the notice on March 27, 2026, under Regulation 30 of the SEBI Listing Regulations.

Proposed Director Appointments

The postal ballot covers three key appointments that require shareholder approval:

Independent Directors' Terms

Both Mr. Rakesh Agarwal and Mrs. Preeti Vijayvargia were initially appointed as Additional Directors on August 18, 2025. Subject to shareholder approval, they will serve as Independent Directors for a five-year term from August 18, 2025 to August 17, 2030. Both directors have submitted declarations confirming they meet the independence criteria under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of the SEBI Listing Regulations.

Director Qualifications and Experience

Mr. Rakesh Agarwal brings over 8 years of experience as a Chartered Accountant, specializing in bank audits, taxation, and financial advisory services. He currently serves as Partner at SARCS & Associates and has extensive experience in statutory and concurrent audits of public and private sector banks.

Mrs. Preeti Vijayvargia is a qualified Chartered Accountant and Company Secretary with over a decade of experience in taxation, audit, and financial consultancy. She holds a Master's degree in Commerce and has conducted statutory bank audits for major institutions including Dena Bank, SBI, and Bank of Maharashtra.

Mr. Deepak Vishwakarma, appointed as Additional Director on November 29, 2025, holds a Bachelor of Arts degree and ITI qualification with over three years of professional experience in business operations.

E-Voting Process and Timeline

The company has implemented a remote e-voting system through Central Depository Services Limited (CDSL) for the postal ballot process:

Scrutinizer Appointment

The Board has appointed Mrs. Geeta Roy Chowdhury (COP No. 7741), Partner of M/s. S. R. & Associates, Practicing Company Secretaries, as the scrutinizer to conduct the postal ballot process in a fair and transparent manner. The scrutinizer will submit a report to the Chairman, and results will be communicated through the company's website and CDSL's e-voting platform.

Shareholders whose email addresses are registered with the company or depository participants as of the cut-off date will receive the postal ballot notice electronically. The notice and e-voting instructions are available on the company's website at www.gptl.in and CDSL's platform at www.evotingindia.com .

Garbi Finvest Limited has announced that all three resolutions proposed in its postal ballot notice dated January 28, 2026 have been rejected by shareholders for failing to receive the requisite majority. The company informed stock exchanges BSE and CSE about the outcome on March 5, 2026, following the conclusion of the remote e-voting process.

Postal Ballot Process and Timeline

The remote e-voting facility was made available to shareholders from February 1, 2026 at 10:00 a.m. to March 2, 2026 at 5:00 p.m., in compliance with the Companies Act, 2013 provisions. The voting rights were determined based on shareholding as of January 23, 2026, which served as the cut-off date. Niche Technologies Private Limited provided the e-voting services as the company's Registrar and Transfer Agent.

Resolution Details and Voting Results

All three resolutions required special resolution approval but failed to secure the necessary support from shareholders. The detailed voting breakdown shows a consistent pattern across all resolutions:

Shareholder Category Breakdown

The voting pattern revealed significant opposition from the promoter group, which holds substantial influence in the company's shareholding structure:

Scrutinizer's Report and Compliance

Geeta Roy Chowdhury of S.R. & Associates served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report dated March 5, 2026 confirmed that the company completed all procedural requirements, including dispatch of notices on January 30, 2026 through email and publication of advertisements in Free Press Journal and Nav Shakti Mumbai on January 31, 2026.

The votes were unblocked on March 5, 2026 in the presence of two witnesses, Mr. Pratham Kothari and Ms. Khusboo Jha, who are not employees of the company. The voting results have been made available on the company's website at www.gptl.com and on the Central Depository Services Limited website as per regulatory requirements.

Regulatory Compliance

The postal ballot process was conducted in accordance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant provisions of the Companies Act, 2013. The company has fulfilled its obligation to inform stock exchanges and make the results publicly available through appropriate channels.