Jhaveri Credits & Capital Shareholders Approve All Five Special Resolutions in Postal Ballot

Jhaveri Credits & Capital disclosed the results of its postal ballot conducted through remote e-voting on May 09, 2026, pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The ballot was based on a Postal Ballot Notice dated April 02, 2026, and covered five special resolutions pertaining to significant board-level changes. The remote e-voting window remained open from Thursday, April 09, 2026 (at 09:00 A.M. IST) to Friday, May 08, 2026 (at 05:00 P.M. IST), with the record date for voting eligibility set as Friday, April 03, 2026. A total of 4,149 shareholders were on record as of the cut-off date.

Board Changes Approved via Postal Ballot

The five special resolutions put to shareholders covered a series of interconnected board restructuring measures. The key changes approved are summarised below:

Resolution No.:	Description:	Type:	Result:
Resolution 1	Change in designation of Mr. Vishnukumar Vitthaldas Patel (DIN: 02011649) from Managing Director to Non-Executive Director	Special Resolution	Passed
Resolution 2	Change in designation of Mr. Vishnukumar Vitthaldas Patel (DIN: 02011649) from Non-Executive Director to Chairman and Non-Executive Director	Special Resolution	Passed
Resolution 3	Appointment of Mr. Ghanshyambhai Hargovindbhai Engineer (DIN: 11542622) as Managing Director	Special Resolution	Passed
Resolution 4	Appointment of Ms. Chetna Rahul Vyas (DIN: 10745894) as Woman (Non-Executive Independent) Director	Special Resolution	Passed
Resolution 5	Change in designation of Ms. Bijal Kiran Parikh (DIN: 07027983) from Non-Executive Director to Executive Director	Special Resolution	Passed

All five resolutions were classified as Special Resolutions, and in each case, the promoter/promoter group was not identified as having an interest in the agenda.

Voting Results Summary

The voting pattern was consistent across all five resolutions. Out of a total of 9,485,936 shares held, 4,886,028 votes were polled, representing 51.5081% of outstanding shares. Of the total votes polled, 4,886,026 were cast in favour and 2 were cast against each resolution, with no invalid votes recorded in any category. The following table presents the aggregate voting data applicable uniformly to all five resolutions:

Metric:	Promoter & Promoter Group	Public Institutions	Public Non-Institutions	Total
Shares Held:	4829031	395494	4261411	9485936
Votes Polled:	4823620	0	62408	4886028
% Votes Polled on Outstanding Shares:	99.8879%	0.0000%	1.4645%	51.5081%
Votes in Favour:	4823620	0	62406	4886026
Votes Against:	0	0	2	2
% in Favour on Votes Polled:	100.0000%	0.0000%	99.9968%	100.0000%
% Against on Votes Polled:	0.0000%	0.0000%	0.0032%	0.0000%
Invalid Votes:	0	0	0	0

Public institutional shareholders recorded zero votes polled across all resolutions, while the promoter and promoter group cast 4,823,620 votes, all in favour, representing 99.8879% of their shareholding.

Scrutinizer's Report and Process

M/s. ALAP & CO. LLP, Practicing Company Secretaries (FRN: L2023GJ013900), were appointed as Scrutinizer for the postal ballot process. The scrutinizer confirmed that the remote e-voting was conducted through the National Securities Depository Limited (NSDL) platform in a fair and transparent manner. The Postal Ballot Notice was dispatched via email on April 08, 2026, to members whose email IDs were registered with the company or depository participant, based on the register of members and beneficiary owner lists as on April 03, 2026. Newspaper advertisements were published in Free Press (English) and Lokmitra (Gujarati) on April 09, 2026. The scrutinizer confirmed that all conditions under Section 114(2) of the Companies Act, 2013 were fulfilled, and all five special resolutions for Item No. 1 to 5 were duly approved by shareholders through remote e-voting. The remote e-voting result was unblocked and downloaded from the NSDL website in the presence of witnesses on Friday, May 08, 2026, at around 05:47 P.M.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-5.40%	+4.06%	+10.76%	-5.71%	-15.91%	+6,811.44%

Jhaveri Credits and Capital Limited has announced a comprehensive postal ballot notice for five special resolutions aimed at restructuring its board composition and leadership roles. The company has now submitted newspaper clippings confirming the publication of the postal ballot notice in leading newspapers, ensuring regulatory compliance.

Newspaper Publication and Compliance

The company submitted newspaper clippings to BSE Limited on April 09, 2026, confirming the publication of the postal ballot advertisement in Free Press Gujarat (English) and Lokmitra (Gujarati) newspapers. Company Secretary Gaurav Shrimankar signed the compliance letter, ensuring adherence to regulatory requirements under Regulation 30.

Compliance Detail:	Information
Publication Date:	April 09, 2026
Newspapers:	Free Press Gujarat (English), Lokmitra (Gujarati)
Submitted To:	BSE Limited (Scrip Code: 531550)
Compliance Officer:	Gaurav Shrimankar (M. No. A32507)

Leadership Transition and New Appointments

The postal ballot encompasses five key resolutions that will reshape the company's leadership structure:

Resolution:	Details
Resolution 1:	Change Mr. Vishnukumar Vitthalas Patel's designation from Managing Director to Non-Executive Director
Resolution 2:	Further change his designation from Non-Executive Director to Chairman and Non-Executive Director
Resolution 3:	Appoint Mr. Ghanshyambhai Hargovindbhai Engineer as Managing Director
Resolution 4:	Appoint Ms. Chetna Rahul Vyas as Woman Independent Director
Resolution 5:	Change Ms. Bijal Kiran Parikh's designation from Non-Executive to Executive Director

Key Management Appointments

New Managing Director

Mr. Ghanshyambhai Hargovindbhai Engineer, possessing over 35 years of experience in government organizations and electrical sector leadership, has been proposed as the new Managing Director. He previously served as Chief Engineer with Gujarat Urja Vikas Nigam and currently serves as CEO of U R Energy (India) Private Limited. His appointment comes with a remuneration package of up to ₹3.00 lakh per month for three years, with potential increments as decided by the Board.

Executive Director Appointment

Ms. Bijal Kiran Parikh, currently a Non-Executive Director, is proposed for elevation to Executive Director. With over 24 years of experience in finance, system audits, and consultancy, she has successfully led teams of 500+ professionals across India. Her new role carries a remuneration of up to ₹5.00 lakh per month for three years.

Independent Director Addition

Ms. Chetna Rahul Vyas, a distinguished law professional with over 17 years of experience in the education sector, has been proposed as Woman Independent Director. She holds degrees in B.A, LLB, Double LLM and PHD, and currently serves as Assistant Professor at Gujarat University's School of Law.

E-Voting Schedule and Process

The company has established a comprehensive timeline for the postal ballot process:

Event:	Date/Time
Cut-off Date:	Friday, April 03, 2026
Notice Dispatch:	Wednesday, April 08, 2026
E-voting Commencement:	Thursday, April 09, 2026 (09:00 AM IST)
E-voting Conclusion:	Friday, May 08, 2026 (05:00 PM IST)
Scrutinizer Report Submission:	Tuesday, May 12, 2026
Result Declaration:	Tuesday, May 12, 2026

The company has engaged National Securities Depository Limited (NSDL) for providing e-voting facilities to shareholders. Only members whose names appear in the Register of Members or Register of Beneficial Owners as on the cut-off date will be entitled to vote.

Company Performance Context

The board restructuring comes against the backdrop of the company's financial performance. For 2024-25, the company reported total income of ₹2332.12 lakh compared to ₹2641.73 lakh in 2023-24. Despite lower revenues, the company improved its profit after tax to ₹240.94 lakh in 2024-25 from ₹161.03 lakh in the previous year.

Scrutinizer and Compliance

M/s. ALAP & CO. LLP, Practicing Company Secretaries, has been appointed as the scrutinizer for conducting the postal ballot process. The resolutions, if approved by requisite majority, will be deemed passed on May 08, 2026. Results will be available on the company's website, NSDL's e-voting portal, and stock exchange websites.

Shareholders can access the complete postal ballot notice on the company's website at www.jhavericredits.com and NSDL's e-voting platform at www.evoting.nsdl.com . The company has emphasized that voting will be conducted exclusively through electronic means, with no physical postal ballot forms being distributed.