Jindal Poly Films Limited has published newspaper advertisements regarding its postal ballot notice and remote e-voting information, following the company's earlier announcement of seeking shareholder approval for significant corporate transactions. The advertisements were published in Financial Express and Jansatta newspapers on April 11, 2026, as part of regulatory compliance under SEBI Listing Regulations.

Postal Ballot Publication Details

The company has fulfilled its regulatory obligation by publishing the postal ballot notice in newspapers as required under Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The publication serves to inform shareholders about the ongoing postal ballot process for critical corporate resolutions.

Key Resolutions Under Consideration

The postal ballot encompasses two significant ordinary resolutions requiring shareholder approval:

Material Related Party Transaction Framework

The company continues to seek approval for material related party transactions with JPFL Films Private Limited, its subsidiary, for an amount up to Rs. 2000 crores. This substantial limit exceeds the existing Related Party Transaction limits of Rs. 1920 crores previously approved by the Audit Committee and Board.

The proposed transactions encompass multiple financial instruments and support mechanisms, including financial assistance through loans, investments, corporate guarantees, and assignment of existing loans. The company has attributed this significant financial requirement to the fire incident at JPFL's Nasik plant and ongoing business revival needs.

Brookfield Investment Structure

The second resolution addresses the put option arrangement with Project Holdings Fourteen (DIFC) Limited, a Brookfield entity that has invested INR 20,000,000,000 in JPFL Films Private Limited. This investment represents a strategic combination of primary and secondary funding to acquire a non-controlling minority stake in the subsidiary.

E-Voting Timeline and Process

The comprehensive e-voting schedule remains active for shareholder participation:

Subsidiary Financial Context

JPFL Films Private Limited, the primary beneficiary of the proposed transactions, reported challenging financial metrics with a turnover of Rs. 3875.26 crores for FY 2024-25, while recording a loss after tax of Rs. 305.55 crores and negative net worth of Rs. 1570.07 crores. The subsidiary continues to face operational challenges following the fire incident at its Nasik manufacturing facility.

Regulatory Compliance Framework

The postal ballot process maintains strict adherence to regulatory requirements, including compliance with the Companies Act 2013, SEBI Listing Obligations and Disclosure Requirements Regulations 2015, and relevant MCA circulars. The company has engaged KFin Technologies Limited as the authorized e-voting service provider and appointed qualified practicing company secretaries as scrutinizers to ensure transparent conduct of the voting process.

Jindal poly films Limited has informed stock exchanges about receiving notice from the National Company Law Tribunal (NCLT) regarding an intervention application filed by the Securities and Exchange Board of India (SEBI) in a petition by minority shareholders.

NCLT Order and SEBI Intervention

The Hon'ble National Company Law Tribunal, Principal Bench, New Delhi issued an order dated 09.04.2026 in Company Petition No. 58/245/PB/2024. The petition was originally filed by Mr. Ankit Jain & Others, who are minority shareholders of Jindal Poly Films Limited. The NCLT has issued notice in the intervention application filed by SEBI and directed parties to file their replies.

Company's Current Status

The company has received the copy of the intervention application filed by SEBI. However, Jindal Poly Films Limited is yet to receive the copy of the order passed by the Hon'ble NCLT. The company received the advance service of the intervention application on March 07, 2026.

Timeline of Communications

Company's Response and Position

In response to media reports circulating about the matter, Jindal Poly Films Limited has stated its commitment to complying with applicable legal and regulatory frameworks. The company emphasized adherence to the highest standards of corporate governance and reiterated that all transactions were conducted following due law and processes as per the Companies Act and SEBI requirements with necessary approvals.

Financial and Legal Implications

The company has indicated that the matter is currently sub-judice, and no specific financial implications have been quantified at this stage. The company is in the process of taking appropriate course of action regarding the intervention application. No penalties, restrictions, or sanctions have been imposed pursuant to the current communication.

Regulatory Compliance

The disclosure has been made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's management has declared that the information provided is true, correct, and complete to the best of their knowledge and belief. Jindal Poly Films Limited has expressed full trust and confidence in the due process of India's judicial system.