Jain Resource Recycling Limited has successfully concluded its postal ballot process for April 2026, with shareholders approving all four proposed resolutions through electronic voting. The company announced the results following scrutiny by BP & Associates, Company Secretaries, Chennai, who served as the appointed scrutinizer for the voting process.

Voting Process and Timeline

The postal ballot notice was dispatched on March 27, 2026, to shareholders whose names appeared in the Register of Members as of the cut-off date of March 20, 2026. The e-voting period remained open from 09:00 AM on March 28, 2026, to 05:00 PM on April 26, 2026, facilitated through KFIN Technologies Limited's electronic voting platform.

Resolution Results Overview

All four resolutions presented to shareholders achieved the requisite majority for approval:

Detailed Voting Analysis

Resolution 1 addressed the approval of re-designation and remuneration of Mr. Atul Pareek as Whole-Time Director of Jain CY Circular Solutions Private Limited, the company's subsidiary. This ordinary resolution received overwhelming support with 29,61,65,618 votes in favour against 46,395 votes against, representing 99.98% approval.

Resolution 2 concerned the payment of remuneration to Mr. Kamlesh Jain (DIN: 01447952), Managing Director, for the financial year 2026-27. This special resolution garnered 4,58,82,196 votes in favour compared to 11,46,651 votes against, achieving 97.56% approval.

Resolution 3 focused on the utilization of IPO funds under the General Corporate Purpose head towards repayment of unsecured loans. Despite receiving the lowest approval rate among all resolutions, it still achieved a substantial majority with 4,36,76,426 votes in favour and 33,52,521 votes against, representing 92.87% approval.

Resolution 4 addressed amendments to the company's Articles of Association, receiving near-unanimous support with 30,09,71,344 votes in favour and only 79 votes against, achieving 100.00% approval rate.

Shareholder Participation

The voting process demonstrated significant shareholder engagement across different categories including promoters, public institutions, and non-institutional public shareholders. The company's total shareholding base of 34,50,85,814 shares participated in the voting process through the electronic platform, with varying participation rates across different resolutions.

The scrutinizer's report confirmed compliance with all regulatory requirements under the Companies Act, 2013, SEBI regulations, and other applicable laws. The successful passage of all resolutions provides the company with necessary approvals to proceed with its planned corporate actions and governance changes for the upcoming financial year.

Jain Resource Recycling Limited has issued a corrigendum to its stock exchange filing dated March 30, 2026, correcting an inadvertent error in the acquisition details of captive generating plant companies. The correction pertains to the price disclosure for Sea Sindu Green Energy Private Limited shares.

Acquisition Overview

The company's Borrowing and Investment Committee approved the acquisition of equity shares in three wind power companies established as Captive Generating Plants under Section 2(8) of the Electricity Act, 2003. The acquisitions are intended for captive use of electricity by the company.

Target Company Details

All three target entities operate in the wind power renewable energy sector and are incorporated in India. The acquisitions are structured as cash transactions with completion targeted by March 31, 2026.

Sea Sindu Green Energy Private Limited

• Incorporation Date: June 12, 2015
• Acquisition Cost: Rs. 26,000 (260 shares @ Rs. 100 each)
• Business: Wind power generation
• Recent Turnover Performance:
  • FY 22-23: Rs. 92,98,036
  • FY 23-24: Rs. 90,14,114
  • FY 24-25: Rs. 79,94,583

Sri Kamakshi Wind Power Private Limited

• Incorporation Date: May 13, 2014
• Acquisition Cost: Rs. 13,00,000 (1,30,000 shares @ Rs. 10 each)
• Business: Wind power generation
• Recent Turnover Performance:
  • FY 22-23: Rs. 1,14,71,754
  • FY 23-24: Rs. 1,30,12,268
  • FY 24-25: Rs. 1,33,13,965

OM Sakthi Wind Power Private Limited

• Incorporation Date: February 15, 2006
• Acquisition Cost: Rs. 60,83,000 (6,08,300 shares @ Rs. 10 each)
• Business: Wind power generation
• Recent Turnover Performance:
  • FY 22-23: Rs. 90,96,779
  • FY 23-24: Rs. 1,06,66,622
  • FY 24-25: Rs. 1,06,51,511

Strategic Rationale

The company emphasized that these acquisitions are solely for captive consumption of electricity and do not constitute a diversification of its main business operations. None of the transactions fall under related party transactions, and no governmental or regulatory approvals are required for completion.

The corrigendum was signed by Bibhu Kalyan Rauta, Company Secretary and Compliance Officer, and filed in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.