Garware Hi-Tech Films publishes postal ballot notice for director appointments

Garware Hi-Tech Films has published the postal ballot notice in newspapers to seek shareholder approval for the appointment of an Independent Director and the re-appointment of the Vice-Chairperson & Joint Managing Director. The notice was published in The Indian Express (English) and Loksatta (Marathi) on May 23, 2026, pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Agenda

The company has proposed two special resolutions for shareholder consideration. The first resolution pertains to the appointment of Ms. Sonali Rajesh Mehta (DIN: 11485935) as an Independent Director for a term of one year, effective from June 25, 2026, to June 24, 2027. The second resolution seeks the re-appointment of Ms. Monika Garware (DIN: 00143400) as Vice-Chairperson and Joint Managing Director for a period of five years, commencing from November 1, 2026, to October 31, 2031.

Key Dates and Schedule

The company has established the following timeline for the postal ballot process:

Event	Date
Cut-off date for determination of voting rights	Tuesday, May 19, 2026
Commencement of e-voting	Monday, May 25, 2026 (09:00 a.m.)
Closure of e-voting	Tuesday, June 23, 2026 (05:00 p.m.)
Declaration of results	On or before Thursday, June 25, 2026

Scrutinizer and Process

The Board has appointed Mr. Mannish L. Ghia, Partner of M/s. Manish Ghia & Associates, Practicing Company Secretaries, as the Scrutinizer to ensure the fair conduct of the postal ballot. The facility for remote e-voting is being provided by National Securities Depository Limited (NSDL). Shareholders whose names appear in the Register of Members or records of depositories as of the cut-off date are eligible to participate. The postal ballot notice and newspaper clippings are available on the company’s website and the NSDL e-voting portal.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.88%	-4.53%	+30.46%	+57.66%	+25.69%	+588.19%

Garware Hi-Tech Films has incorporated a wholly-owned subsidiary in Dubai, UAE, named Garware Hi Tech Global Trading FZCO. The company received the Certificate of Formation and Trading license via email on May 21, 2026. The subsidiary has been established under the Dubai Airport Free Zone Authority.

Subsidiary Details

The new entity, abbreviated as GHGT, was incorporated on April 27, 2026. It operates within the films, ceramic coatings, and Paint Protection Film (PPF) industries. The primary business objective of GHGT is to engage in the buying and selling of these products to the MENA region and for exporting to other parts of the world.

Capital Structure and Investment

The incorporation involved a 100% subscription to the initial paid-up share capital through cash consideration. Garware Hi-Tech Films holds complete control over the subsidiary. The financial details regarding the subscription are outlined below.

Particulars	Details
Name of Subsidiary	Garware Hi Tech Global Trading FZCO
Country of Incorporation	Dubai, UAE
Date of Incorporation	April 27, 2026
Paid-up Share Capital	AED 2,000,000
Number of Shares	400,000
Face Value per Share	AED 5
Shareholding Percentage	100%

Strategic Purpose

The establishment of this wholly-owned subsidiary aligns with the company's strategy to expand its global footprint. By setting up a base in Dubai, Garware Hi-Tech Films aims to streamline its trading and export operations for films, ceramic coatings, and PPF across the MENA region and international markets.