Indian Metals & Ferro Alloys Limited shareholders approved the appointment of Dr Deepak Kumar Mohanty as a non-executive independent director via postal ballot on September 10, 2026.

The company also secured shareholder approval to enhance the payment of commission to its independent directors, effective from FY27.

Key Resolutions Passed

The resolutions were passed through remote e-voting facilitated by NSDL, with the voting period concluding on September 10, 2026. CA Sourjya Prakash Mohapatra served as the independent scrutinizer for the process.

Director Appointment Details

Dr Deepak Kumar Mohanty (DIN: 09771960) was initially appointed as an Additional Director in the capacity of Non-Executive Independent Director effective June 30, 2026. Following the postal ballot approval, he is now confirmed for a term of five consecutive years starting from that date. He is not liable to retire by rotation.

Commission Enhancement Structure

The approved resolution supersedes the earlier mandate passed at the 62nd Annual General Meeting held on July 31, 2024. Under the new structure:

• The aggregate commission payable to non-executive independent directors will not exceed 0.5% per annum of the net profits calculated under Section 198 of the Companies Act, 2013.
• The total annual commission cap is set at ₹1,50,00,000 (Rupees One Crore Fifty Lakh only).
• No individual independent director shall receive an aggregate remuneration exceeding ₹25,00,000 (Rupees Twenty-Five Lakh only) per financial year, excluding sitting fees for Board and Committee meetings.

These changes apply with effect from the financial year 2026-27 onwards.

Indian Metals & Ferro Alloys Limited appointed Mr Partha Satpathy as an additional non-executive independent director on its board. The appointment becomes effective from September 8, 2026, following the receipt of security clearance from the Office of the Director General of Civil Aviation.

The clearance letter, dated September 2, 2026, was received by the company on September 8, 2026. This follows a previous communication dated May 27, 2026. Mr Satpathy’s tenure is fixed for a period of three years, subject to the approval of shareholders at the ensuing general meeting.

Director Profile

Mr Satpathy brings over 35 years of experience in diplomacy and international relations to the board. He served as a career diplomat in the Indian Foreign Service from 1990 to 2025. His recent roles include Ambassador of India to Hungary and Bosnia & Herzegovina (2022–2025) and Ambassador of India to Ukraine (2018–2022).

He holds a Master of Business Administration from IIM Ahmedabad and a Master’s in International Human Rights and Law from the University of Essex, UK. He also completed a Financial Times Non-Executive Director Diploma in the UK in 2024.

Core Expertise

The company highlighted several core strengths of the new director:

• Complex multilateral negotiations and high-level stakeholder engagement
• Leadership in cross-sectoral and inter-governmental collaboration
• Strategic guidance on risk management and mitigation
• Integrating responsible business and sustainability into corporate strategies

Board Experience

Mr Satpathy has participated in the executive boards of international and specialized UN organizations, including the WHO, ILO, HRC, WMO, ITU, and WIPO. He has shepherded various UN conventions covering corruption, trafficking, small arms, human rights, biodiversity, climate change, and global health.

Regulatory Compliance

The disclosure was made pursuant to Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company affirmed that Mr Satpathy is not debarred from holding the office of director by virtue of any SEBI order or other authority, in line with BSE circular No. LIST/COMP/14/2018-19.