Garware Hi-Tech Films Limited announced the sudden and untimely demise of Mrs. Sarita Garware Ramsay, Joint Managing Director, on July 09, 2026. The Board of Directors and employees expressed their deepest condolences to the bereaved family, noting her passing as an irreparable loss to the company.

Mrs. Sarita Garware Ramsay had been serving as Joint Managing Director of the company since 2002. Her wisdom, experience, and contributions were deeply valued by the Board and the company during her tenure.

The disclosure was made to the exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Awaneesh Srivastava, Company Secretary.

Details of Cessation

The following details were provided in the filing regarding the change in directorship:

Garware Hi-Tech Films has secured shareholder approval to re-appoint Ms. Monika Garware as Vice-Chairperson and Joint Managing Director and appoint Ms. Sonali Rajesh Mehta as an Independent Director. The resolutions were passed through a special resolution via postal ballot and remote e-voting on June 23, 2026. The re-appointment of Ms. Garware is effective from November 1, 2026, for a five-year term ending October 31, 2031, ensuring continuity in the company's leadership structure.

Ms. Monika Garware has been associated with the company as a Director since March 31, 1989, and currently oversees overall business affairs. She holds an MBA from Lubin Business School, Pace University, New York, USA. The disclosure confirms she is not debarred by SEBI, the Ministry of Corporate Affairs, or any other statutory authority from holding the directorship. Ms. Garware is the daughter of Dr. S. B. Garware and the sister of Mrs. Sarita Garware Ramsay and Ms. Sonia Garware.

The postal ballot process, conducted by Scrutinizer Mr. Mannish L. Ghia of M/s. Manish Ghia & Associates, saw strong participation. For the resolution regarding Ms. Garware's re-appointment, 99.99% of the valid votes were cast in favour, with 15841667 votes supporting the motion against 792 votes against it. The resolution also approved the minimum remuneration to be paid in case of inadequacy of profit.

Shareholders also approved the appointment of Ms. Sonali Rajesh Mehta (DIN: 11485935) as an Independent Director. This resolution received 99.99% approval, with 16111058 votes in favour and 616 votes against. The promoter and promoter group voted entirely in favour of both resolutions.

The regulatory filing was submitted to BSE Limited and the National Stock Exchange of India under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer's report is available on the company's website and NSDL's e-voting portal.

Voting Results Summary

Key Details of Re-appointment