JSW Cement Limited has announced the successful completion of its postal ballot voting process, with shareholders approving the re-appointment of two key directors through special resolutions. The remote e-voting concluded on March 29, 2026, at 5:00 p.m. (IST), marking a significant milestone in the company's corporate governance process.

Approved Resolutions

Shareholders voted on two critical special resolutions through the postal ballot process:

Voting Process Details

The postal ballot process was conducted entirely through electronic means, with the remote e-voting period spanning from February 28, 2026, at 9:00 a.m. (IST) to March 29, 2026, at 5:00 p.m. (IST). The company engaged National Securities Depository Limited (NSDL) to facilitate the e-voting process, ensuring transparency and accessibility for all eligible shareholders.

Voting Results for Managing Director Re-appointment

The resolution for Mr. Parth Jindal's re-appointment as Managing Director received overwhelming support across all shareholder categories:

Voting Results for Independent Director Re-appointment

The resolution for Mr. Pankaj Kulkarni's re-appointment as Independent Director also secured the requisite majority:

Scrutinizer's Report and Compliance

Ms. Meghana Mhatre of Meghana Mhatre & Associates Company Secretaries served as the appointed Scrutinizer for the postal ballot process. The scrutinizer's report, dated March 30, 2026, confirmed that both resolutions were passed with the requisite majority under the provisions of the Companies Act, 2013.

The voting process was conducted in compliance with:

• Sections 108 and 110 of the Companies Act, 2013
• Companies (Management and Administration) Rules, 2014
• Regulation 44 of SEBI Listing Regulations
• Secretarial Standard on General Meetings (SS-2)

Corporate Governance and Transparency

The company ensured transparency by making the postal ballot notice available on multiple platforms, including the company website at www.jswcement.in , NSDL's e-voting portal, and stock exchange websites. Additionally, the company published advertisements in Financial Express (English) and Navshakti (Marathi) on February 27, 2026, to inform shareholders about the voting process.

The successful completion of this postal ballot process demonstrates JSW Cement's commitment to robust corporate governance practices and effective shareholder engagement in critical leadership decisions.

JSW Cement Limited has received a significant tax order from the Additional Commissioner, CGST & C.X. Haladia Commissionerate, West Bengal, involving disallowance of input tax credit and penalty imposition worth Rs 6,88,81,340 each. The company disclosed this development through a regulatory filing dated March 27, 2026, pursuant to Regulation 30 of SEBI Listing Regulations.

Order Details and Allegations

The tax authority has passed an order alleging suppression of facts under provisions of section 74. According to the order, the company availed Input Tax Credit (ITC) in excess of the ITC available in table 8A of GSTR9, thereby violating section 16 conditions. This has resulted in what the authority terms as "wrong availment" leading to disallowance of ineligible ITC.

Company's Response and Next Steps

JSW Cement has expressed strong disagreement with the tax order, stating that it believes the order is incorrect and has not considered the merits of the company's contentions. The company has indicated that it is in the process of filing an appeal against this decision with the appropriate authority.

Regarding the financial impact, the company has clarified that while the financial impact extends to the demand and penalty imposed, there is no material impact on the company's operations. The company intends to pursue legal remedies through the appellate process.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also uploaded the relevant information on its official website at www.jswcement.in for stakeholder access.

The filing was signed by Sneha Bindra, Company Secretary and Compliance Officer, and includes detailed annexures as per SEBI Master Circular requirements, providing comprehensive information about the nature of the order and its potential implications.