Jolly Plastic Industries Limited has announced the resignation of its Company Secretary & Compliance Officer, Ms. Sandhya Yadav, effective March 30, 2026. The company disclosed this development to BSE Limited in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Ms. Sandhya Yadav submitted her resignation citing personal reasons and confirmed that there are no other material reasons for her departure. The company provided comprehensive details of the resignation as required under regulatory guidelines.

Personal Reasons Behind Departure

In her resignation letter dated March 30, 2026, Ms. Yadav explained that her decision to resign is purely on account of personal considerations. She expressed her intention to step down from her position to attend to personal commitments. The departing officer confirmed that there are no unresolved disputes with the company on any matter.

Company's Response and Next Steps

Jolly Plastic Industries Limited acknowledged Ms. Yadav's resignation and confirmed receipt of her formal resignation letter. The company stated that it is currently in the process of appointing a new Company Secretary & Compliance Officer. The management indicated that details of the new appointment will be communicated to stakeholders in due course.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015. The resignation letter and all required documentation have been submitted to BSE Limited for record purposes. The company will complete all necessary statutory filings and formalities with the Registrar of Companies, stock exchanges, and other regulatory authorities regarding this change in key managerial personnel.

Tenure and Service

Ms. Sandhya Yadav served as Company Secretary & Compliance Officer for approximately four months, having been appointed on November 29, 2024. In her resignation letter, she expressed sincere gratitude to the Board of Directors and management for their support and cooperation during her association with the company.

Jolly Plastic Industries Limited continues to advance through the regulatory process for Bhaum Digital Ventures Private Limited's open offer, with the Independent Directors Committee unanimously approving and publishing their recommendation on April 14, 2026, marking another crucial milestone in the acquisition process.

IDC Recommendation Approval and Publication

The Independent Directors Committee, comprising Rajesh Kumar Vaid (Chairman) and Parul Kumari (Member), unanimously approved the open offer terms and published their recommendation on April 14, 2026. The IDC assessed the ₹10 per share offer price as fair and reasonable under SEBI SAST Regulations, with both members providing their assent to the proposal.

The recommendation was published across multiple newspapers on April 14, 2026, in compliance with SEBI SAST Regulation 26(7):

Open Offer Parameters and Timeline

The open offer remains structured for Bhaum Digital Ventures to acquire 63,37,864 equity shares, representing 26.00% of the expanded equity capital. The offer timeline has been finalized with specific dates for the acquisition process:

Financial Structure and Regulatory Compliance

The offer maintains its original financial parameters with comprehensive regulatory backing. SEBI provided final observations on the Draft Letter of Offer through letter HO/49/12/11(33)2026-CFD-RAC-DCR1 dated March 27, 2026, which have been incorporated into the final documentation.

Post-Transaction Shareholding Impact

Upon completion of both the preferential allotment and open offer, assuming full acceptance, the shareholding structure will be significantly altered. Bhaum Digital Ventures will hold 2,40,37,864 shares representing 98.61% of the expanded capital, while public shareholders will retain 3,38,536 shares or 1.39% of the total 2,43,76,400 expanded equity shares.

The offer remains open for public shareholders from April 17, 2026, to April 30, 2026, with payment scheduled for May 15, 2026, subject to valid acceptance of tendered shares.