Gfl Limited shareholders have overwhelmingly approved the re-appointment of Shashi Kishore Jain as a Non-Executive Independent Director on its Board. The resolution, passed via remote e-voting under the postal ballot process, secures Jain’s tenure for a second consecutive term of five years, effective from May 30, 2026, to May 29, 2031. This continuity ensures stable governance oversight for the chemical manufacturer as it navigates its operational strategy.

The voting process was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The e-voting period commenced on July 7, 2026, at 9:00 a.m. (IST) and concluded on August 5, 2026, at 5:00 p.m. (IST). Dhrumil M. Shah & Co. LLP served as the independent scrutinizer, verifying the votes cast through the Central Depository Services (India) Limited (CDSL) platform. The results were unblocked in the presence of two independent witnesses, Dhiraj Palav and Zeel Chheda, ensuring transparency in the counting process.

Shareholders holding shares as of the cut-off date, July 3, 2026, were eligible to vote. A total of 76,351,385 votes were polled out of the 109,850,000 shares held by eligible members, representing a participation rate of 69.51%. The promoter group, holding 75,492,611 shares, cast all their votes in favor of the resolution. Public non-institutional shareholders also supported the appointment, with 99.80% of their polled votes cast in favor.

The resolution required approval under Section 149 and 152 of the Companies Act, 2013, and Regulation 17(1A) of the SEBI Listing Regulations, specifically addressing Jain’s continuation in office despite having attained the age of 75 years. The Nomination and Remuneration Committee had recommended his re-appointment, noting his qualifications and independence.

Governance Implications

The near-unanimous support reflects strong confidence among institutional and retail investors in Jain’s contribution to the Board’s oversight functions. With only 1,703 votes cast against the resolution out of more than 76 million polled, dissent was negligible. This outcome aligns with regulatory expectations for independent director appointments, reinforcing the company’s commitment to robust corporate governance standards as mandated by the Institute of Company Secretaries of India’s Secretarial Standards on General Meetings (SS-2).

GFL Limited and INOX Infrastructure Limited have announced that the final hearing for their scheme of merger is scheduled for September 3, 2026. The National Company Law Tribunal (NCLT), Mumbai Bench, will hear the joint company scheme petition at 10:30 a.m. or soon thereafter. The tribunal had previously admitted the petition on June 25, 2026.

The scheme involves the merger by absorption of INOX Infrastructure Limited, the transferor company, with GFL Limited, the transferee company. The process is governed by Sections 230 to 232 of the Companies Act, 2013, and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016.

Procedural Details

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the companies disclosed the hearing schedule via newspaper advertisements published on July 14, 2026. The notices appeared in the Maharashtra editions of Business Standard and Navshakti.

Any person wishing to make a representation regarding the petition must submit a notice of intention to the petitioner companies' authorised representative and the tribunal. These submissions must be received no later than two days before the hearing date. The grounds for representation must be furnished in the form of an affidavit along with the notice.

Access to Petition Documents

Copies of the petition and its annexures are available for inspection. Interested parties may obtain these documents from the authorised representative upon payment of prescribed fees. The documents are accessible between 11:00 a.m. and 5:00 p.m. on any working day, excluding Saturdays, Sundays, and public holidays, up until two days prior to the hearing.

The authorised representative for the petitioner companies is A R C H and Associates, Chartered Accountants. The firm is located at 1804, 18th Floor, Anmol Pride, Opp. Patel Auto, S.V. Road, Goregaon (West), Mumbai.