GFL Limited has officially declared the results of its postal ballot process, with shareholders demonstrating overwhelming support for key director appointments and designation changes. The company filed the voting results with stock exchanges on March 27, 2026, under Regulation 44 of SEBI Listing Regulations.

Official Declaration and Regulatory Filing

The company submitted its voting results declaration to BSE Limited and National Stock Exchange of India Limited, confirming the successful completion of the postal ballot process. The remote e-voting period commenced on February 26, 2026 at 9:00 AM IST and concluded on March 27, 2026 at 5:00 PM IST, with resolutions deemed passed on the last date of e-voting.

Resolution 1: Appointment of Mrs. Ishita Jain

The first ordinary resolution for the appointment of Mrs. Ishita Jain (DIN: 09276232) as a Non-Executive Director received exceptional shareholder support across all categories. The resolution was passed with 99.99% approval from shareholders who participated in the voting process.

Resolution 2: Designation Change for Mr. Pavan Kumar Jain

The second special resolution approved 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. This resolution achieved even higher approval rates, with 99.997% of votes cast in favour.

Appointment Terms and Conditions

Mrs. Ishita Jain's appointment as Non-Executive Director was recommended by the Nomination and Remuneration Committee and approved by the Board of Directors on February 12, 2026. Her tenure will be subject to retirement by rotation as per the company's Articles of Association.

Mr. Pavan Kumar Jain's designation change to Chairman and Managing Director is effective from February 12, 2026, for a period of five years until February 11, 2031, without remuneration. The appointment includes standard perquisites such as company car with driver, telephone facility, furnished accommodation, medical expenses reimbursement, club fees, and leave travel concession.

Scrutinizer Certification and Process Validation

The postal ballot process was scrutinized by Dhrumil M. Shah, Partner of Dhrumil M. Shah & Co. LLP, Practising Company Secretaries, who was appointed as Scrutinizer pursuant to Section 108 and 110 of the Companies Act, 2013. The scrutinizer confirmed that the e-voting process was conducted in a fair and transparent manner, with votes being unblocked on March 27, 2026 at 5:06 PM in the presence of two independent witnesses - Devesh Nerurkar and Shweta Shetty.

The voting results have been made available on the company's website at www.gfllimited.co.in , and the company has filed the necessary regulatory disclosures with BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 44 of the SEBI Listing Regulations. The e-voting was facilitated by Central Depository Services (India) Limited (CDSL) as the service provider, with votes reconciled through the company's Registrar and Transfer Agent, MUFG Intime India Private Limited.

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.