Jain Resource Recycling Limited has issued a postal ballot notice seeking shareholder approval for the appointment of two independent directors and significant alterations to its Memorandum of Association. The company is facilitating remote e-voting through National Securities Depository Limited (NSDL) to ensure compliance with regulatory requirements.

Director Appointments

The board proposes the ratification of two additional independent directors appointed in August 2026 to fill casual vacancies caused by resignations. Both appointments are subject to member approval via special resolution.

Mr. Behera brings over 30 years of experience in customs, taxation, and international trade, while Ms. Saiya contributes expertise in corporate governance and legal compliance. Neither director holds any shares in the company or has relationships with existing key managerial personnel.

Business Diversification via MoA Alteration

The third resolution seeks to expand the company's operational scope by altering Clause III(A) of its Memorandum of Association. This move signals a strategic shift beyond its core recycling and metal processing activities into new sectors.

• Coal and Minerals: The revised objects clause permits prospecting, mining, extraction, and trading of coal and other minerals, including the establishment of mines and processing facilities.
• Automated Retail: The company plans to enter the business of manufacturing, installing, and operating vending machines, self-service kiosks, and automated retail systems, along with associated IoT and payment technology solutions.
• General Trading: A broad general trading clause allows dealing in diverse commodities, including agricultural products, textiles, electronics, automobile components, and consumer goods, both domestically and internationally.

Voting Schedule

Shareholders whose names appear on the register as of October 9, 2026, are eligible to vote. The remote e-voting window opens on October 17, 2026, and closes on November 15, 2026.

Strategic Implications

The simultaneous expansion of the board's regulatory expertise and the broadening of business objectives suggests a dual focus on strengthening governance while pursuing aggressive diversification. The inclusion of coal mining and automated retail in the objects clause indicates a pivot toward capital-intensive and technology-driven revenue streams alongside traditional metal recycling.

Jain Resource Recycling Limited has approved the reallocation of ₹36.64 million in unutilised Initial Public Offer (IPO) proceeds to General Corporate Purposes. The decision, taken by the Board of Directors via circulation on October 7, 2026, aims to optimise capital usage while adhering to regulatory limits.

The company stated that the amount was originally earmarked for Issue Expenses but remained unused. This reallocation complies with the terms of the Prospectus dated September 26, 2025. It also ensures that the aggregate amount allocated to General Corporate Purposes remains within 25% of the gross issue proceeds, as mandated by Regulation 7(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Consequently, this move does not constitute a variation in the objects of the Issue under Section 27 of the Companies Act, 2013.

Independent director appointments

The Board also approved a Postal Ballot Notice to seek member approval for the appointment of two new Independent Directors. These appointments are necessary to fill casual vacancies caused by recent resignations. The resolutions will be passed by special resolution through remote e-voting only.

Voting schedule and process

The company has outlined a specific timeline for the e-voting process to ensure transparency and compliance with listing regulations. M/s. BP & Associates has been appointed as the Scrutinizer to oversee the postal ballot process and submit the final report.

The Postal Ballot Notice will be dispatched to members separately and made available on the company's website along with stock exchange platforms. The reallocation details will be reported in the Monitoring Agency Report and the quarterly statement under Regulation 32 of the Listing Regulations.