Kalind Limited has announced comprehensive corporate developments following its Board of Directors meeting and subsequent regulatory submissions. The company has appointed a new Independent Director, approved major amendments to its constitutional documents, and formally submitted applications for promoter reclassification to BSE Limited in compliance with SEBI regulations.

Independent Director Appointment

The Board approved the appointment of Ms. Payal Bafna (DIN: 09075302) as Additional Director designated as Non-Executive Independent Director for a five-year term from April 6, 2026 to April 5, 2031, subject to shareholder approval. Ms. Bafna brings over 10 years of expertise in Company Law, SEBI regulations, and Legal Compliance, having served as Company Secretary and Legal Manager for various listed entities before transitioning to independent practice in 2022.

Formal BSE Application for Promoter Reclassification

On April 7, 2026, the company formally submitted an application to BSE Limited seeking "no-objection" for reclassification of two promoters from 'Promoter Group' category to 'Public' category under Regulation 31A of SEBI LODR Regulations. This follows the Board's earlier approval of reclassification requests from both promoters.

Both promoters confirmed they do not exercise control over company affairs, hold no special rights, are not represented on the board, and meet all conditions prescribed under Regulation 31A(3)(b) of SEBI LODR Regulations.

Board Committee Restructuring

Following the appointment, the company has reconstituted its Board committees in compliance with regulatory requirements:

Constitutional Document Amendments

The Board approved significant amendments to the company's Memorandum of Association (MOA) and Articles of Association (AOA), subject to shareholder approval through postal ballot. The amendments include addition of new business objects in renewable energy and agriculture sectors.

Key new business activities approved for inclusion:

• Engineering, Procurement and Construction (EPC) services for power projects
• Operation and Maintenance (O&M) services for power plants and transmission systems
• Solar and renewable energy generation, transmission and distribution
• Agricultural operations including cultivation, processing and trading of agricultural produce

Postal Ballot Process

The company will conduct a postal ballot through remote e-voting facility for shareholder approval on four key items:

The postal ballot will be conducted in accordance with Section 110 of the Companies Act, 2013 and applicable SEBI regulations. With these changes, the Board composition will comprise six directors: two Executive Directors, one Non-Executive Non-Independent Director, and three Non-Executive Independent Directors, ensuring compliance with regulatory requirements.

Kalind Limited successfully conducted its Extraordinary General Meeting on March 27, 2026, achieving unanimous approval for all nine proposed resolutions. The meeting, held through video conferencing from 12:30 p.m. to 12:38 p.m., demonstrated strong shareholder confidence in the company's strategic direction with comprehensive voting participation.

Meeting Participation and Attendance

The EGM witnessed participation from 42 shareholders through video conferencing, representing a total of 17,271,256 shares or 14.17% of the company's total capital. The attendance breakdown showed strong promoter participation alongside public shareholders from the company's total shareholder base of 12,558 shareholders.

Key Appointments and Leadership Changes

The meeting approved several critical appointments to strengthen the company's leadership structure. Shareholders unanimously approved the appointment of Mr. Vishal Patil (DIN: 08054088) as a Non-Executive Independent Director through a special resolution, receiving 36,142,726 votes in favor with 100.00% approval rate.

Additionally, the appointment of Mrs. Ketanaben Jasani (DIN: 09842742) as a Non-Executive Non-Independent Director was approved through an ordinary resolution. The company also appointed D G K T & CO LLP, Chartered Accountants (Firm Registration No. 151804W/W100761) as statutory auditors to fill a casual vacancy.

Financial and Operational Authorizations

Shareholders provided comprehensive approvals for various financial and operational matters essential for business growth. All financial resolutions achieved unanimous approval with 36,142,726 votes in favor, demonstrating strong shareholder confidence in management's strategic direction.

The meeting also approved the increase in authorized share capital and consequent amendment to the capital clause of the Memorandum of Association through an ordinary resolution.

Comprehensive Voting Process and Results

The company implemented a comprehensive voting mechanism combining remote e-voting and venue voting. Remote e-voting commenced on March 24, 2026, at 09:00 A.M. and concluded on March 26, 2026, at 05:00 P.M. Mrs. Riddhi Shah, Practising Company Secretary, served as the scrutinizer for both remote and venue voting processes.

All resolutions achieved 100.00% approval rates with no dissenting votes recorded across any category. The voting pattern demonstrated strong alignment between promoter and public shareholder interests, with vote counts varying based on shareholder interest in specific resolutions.

Regulatory Compliance and Documentation

The meeting addressed important regulatory compliance matters, including the ratification of the detailed auditor's certificate related to the company's name change application submitted to BSE. This special resolution, passed pursuant to Regulation 45(3) of SEBI (LODR) Regulations, 2015, received unanimous approval with 36,142,726 votes, maintaining the company's perfect approval record.

The comprehensive documentation and scrutinizer's report confirm full compliance with regulatory requirements under the Companies Act, 2013, and SEBI regulations. The meeting's proceedings were conducted in accordance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and proper governance standards throughout the process.