ISGEC Heavy Engineering Limited has successfully completed its postal ballot process, announcing results on March 28, 2026, with shareholders demonstrating strong support for key leadership re-appointments. The company conducted the entire voting process through electronic means, securing approval for critical director positions across four resolutions.

Postal Ballot Process Overview

The company issued its postal ballot notice on February 24, 2026, covering four key resolutions for shareholder approval. The voting period commenced on February 26, 2026, at 09:00 a.m. and concluded on March 27, 2026, at 05:00 p.m., with results declared on March 28, 2026, around 04:13 p.m. The process was conducted entirely through remote e-voting via National Securities Depository Limited (NSDL), with Mr. Pramod Kothari serving as the appointed scrutinizer.

Director Re-appointments and Voting Results

Shareholders approved all four resolutions with varying degrees of support. The re-appointment of Mr. Aditya Puri as Managing Director received approval from 90.79% of votes, while the Joint Managing Director positions secured overwhelming support exceeding 99%.

Managing Director Re-appointment

Mr. Aditya Puri's re-appointment as Managing Director for a five-year term from May 01, 2026, to April 30, 2031, was approved with significant shareholder backing.

The resolution establishes Mr. Puri's remuneration at Rs. 21,00,000 per month as basic salary, with perquisites and allowances not exceeding Rs. 20,00,000 per month, plus commission not exceeding 2.5% of net profits.

Joint Managing Directors Approval

Both Joint Managing Director re-appointments received exceptional shareholder support, with 99.97% approval rates.

Mr. Chatnani will continue as Joint Managing Director and Chief Financial Officer with a basic salary of Rs. 8,32,270 per month, while Mr. Gulati will serve as Joint Managing Director and Head-Manufacturing Units with Rs. 8,41,563 per month.

Independent Director Re-appointment

The special resolution for Mr. Arvind Sagar's re-appointment as Independent Director for a second consecutive term received strong approval from shareholders.

Compliance and Documentation

The postal ballot process adhered to all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations. The company published advertisements in Business Standard (English) and Hari Bhoomi (Hindi) on February 25, 2026, informing shareholders about the notice dispatch and voting timeline. All voting results and the scrutinizer's report have been disclosed on the company's website and communicated to stock exchanges where ISGEC shares are listed.

The successful completion of this postal ballot process ensures continuity in ISGEC Heavy Engineering's leadership structure, with all key management positions secured for the next five-year term through strong shareholder mandate.

ISGEC Heavy Engineering Limited has made a regulatory disclosure confirming that no encumbrance exists on promoter shareholding for the financial year ended March 31, 2026. The declaration was submitted to stock exchanges on April 02, 2026, in compliance with SEBI takeover regulations.

Regulatory Disclosure Details

The disclosure was made under Regulation 31(4) & 31(5) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011. Aditya Puri, son of Shri Ranjit Puri and promoter of the company, submitted the formal declaration to both BSE Limited and National Stock Exchange of India Limited.

Promoter Shareholding Status

According to the declaration, Aditya Puri and other promoters and members of the promoter group, together with persons acting in concert, have not made any encumbrance, directly or indirectly, of their shareholding in the company during the financial year ended March 31, 2026. The total holding of the promoter and promoter group in the company remains completely unencumbered.

Compliance Framework

This disclosure forms part of the mandatory regulatory requirements under SEBI takeover regulations. The declaration ensures transparency regarding promoter shareholding and provides clarity to investors about the encumbrance status of promoter holdings. Such disclosures are essential for maintaining market integrity and investor confidence in the company's governance practices.

The formal communication was addressed to both major stock exchanges where the company's shares are listed, ensuring comprehensive regulatory compliance across all trading platforms.