GFL Limited has issued an important clarification regarding its postal ballot notice dated February 12, 2026, providing additional details about the compensation structure for its top executive. The company communicated this clarification to both major stock exchanges on March 19, 2026, ensuring transparency in its corporate governance practices.

Postal Ballot Clarification Details

The clarification specifically addresses the terms related to Mr. Pavan Kumar Jain, who serves as the Chairman and Managing Director of the company. The company has explicitly stated that no perquisites will be provided to the CMD under the proposed resolution.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to maintaining proper regulatory compliance. The clarification was simultaneously communicated to both BSE Limited and National Stock Exchange of India Limited.

Corporate Governance Framework

The postal ballot notice seeks shareholder approval for a special resolution as outlined in the original notice dated February 12, 2026. By providing this clarification, GFL Limited ensures that shareholders have complete information before voting on the proposed resolution. The clarification was signed by Lakhan Laxmi Rajam Shamala, Company Secretary & Compliance Officer, and digitally authenticated on March 19, 2026.

This clarification reflects the company's transparent approach to corporate governance and ensures that all stakeholders are fully informed about the terms and conditions of executive compensation under the proposed postal ballot resolution.

GFL Limited has announced a postal ballot notice to seek shareholder approval for significant board changes, including the appointment of a new Non-Executive Director and a key designation change for an existing director.

Board Appointments and Changes

The company is seeking approval for two major resolutions through the postal ballot process. The first involves the appointment of Mrs. Ishita Jain (DIN: 09276232) as a Non-Executive Director, while the second concerns the change in designation of Mr. Pavan Kumar Jain (DIN: 00030098) from Non-Executive Director to Chairman and Managing Director beyond the age of 70 years.

Postal Ballot Timeline

The Board of Directors approved these proposals at their meeting held on February 12, 2026. The postal ballot process follows a structured timeline with specific dates for each phase of the voting process.

Leadership Background

Mr. Pavan Kumar Jain brings extensive experience as a Chemical Engineer from the Indian Institute of Technology, Delhi (1972 batch) with over five decades of industrial experience. As the Founder and Chairman of the INOX Group, he has been instrumental in transforming the organization into one of India's respected conglomerates with presence across industrial gases, cryogenic engineering, and entertainment sectors.

Mrs. Ishita Jain holds a bachelor's degree in Arts from Fergusson College, Pune, and a Diploma in Pre-primary teaching training from Bharatiya Vidya Bhavan, Pune. She currently oversees CSR activities and implements CSR projects for social and local community welfare for the INOX Group.

Voting Process and Compliance

The company has engaged Central Depository Services (India) Limited (CDSL) for providing e-voting facility to all members. Mr. Dhrumil M. Shah, Partner of Dhrumil M. Shah & Co. LLP, has been appointed as the Scrutinizer for conducting the postal ballot and e-voting process.

Shareholders can cast their votes electronically from 09.00 a.m. on February 26, 2026, until 05.00 p.m. on March 27, 2026. The results will be announced within 48 hours of the conclusion of e-voting and communicated to stock exchanges and displayed on the company's website at www.gfllimited.co.in .

Regulatory Compliance

The postal ballot notice has been issued pursuant to Section 110 of the Companies Act, 2013, read with Rule 22 of the Companies (Management and Administration) Rules, 2014, and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment of Mr. Pavan Kumar Jain as Managing Director beyond the age of 70 years requires special resolution approval as per regulatory requirements.