Kalyani Steels Limited has secured shareholder approval to appoint Mr. Shishir Joshipura as an Independent Director for a term of four years from May 8, 2026, to May 7, 2030. The resolution was passed via a special resolution through a postal ballot process, receiving overwhelming support from investors. This appointment strengthens the company's board governance structure as it moves forward with its strategic objectives.

The Board of Directors approved the proposal at a meeting held on May 8, 2026. Mr. Shishir Joshipura (DIN 00574970) meets the criteria for independence as prescribed in Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The remote e-voting period commenced on May 22, 2026, and concluded on June 20, 2026. Kalyani Steels appointed Mr. Sridhar Mudaliar or Mrs. Meenakshi Deshmukh, Partners of M/s. SVD & Associates, Company Secretaries, Pune, as the Scrutinizer to ensure the voting process was conducted fairly and transparently. The results were scrutinized pursuant to Regulation 44 of the Listing Regulations.

A total of 34,262,876 votes were polled, representing 78.4891% of the outstanding shares. The resolution received 34,261,492 votes in favour, accounting for 99.9960% of the total votes polled. Only 1,384 votes were cast against the resolution, which constituted 0.0040% of the total votes. There were no invalid votes recorded during the process.

Voting Breakdown by Shareholder Category

The voting participation varied across different shareholder categories. Promoter and Promoter Group held 28,244,202 shares, with 28,153,561 votes polled, resulting in a 99.6791% participation rate. Public Institutions held 5,715,354 shares, with 5,364,686 votes polled, representing a 93.8645% participation rate. Public Non-Institutions held 9,693,504 shares, with 744,629 votes polled, resulting in a 7.6817% participation rate.

Detailed Voting Results

The Scrutinizer's report confirmed compliance with the provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had dispatched the Postal Ballot Notice to members on May 19, 2026, and published an advertisement on May 20, 2026, to inform shareholders about the voting process. The results have been submitted to the BSE Limited and the National Stock Exchange of India Limited.

Kalyani Steels has reported a delay in obtaining environmental clearance for its project located in Odisha. The company made this disclosure, highlighting a regulatory hurdle that has impacted the progress of the said project.

Environmental Clearance Delay

The delay in environmental clearance represents a significant procedural development for Kalyani Steels' Odisha project. Environmental clearances are a mandatory regulatory requirement for industrial and infrastructure projects in India, and any delay in obtaining such approvals can affect project timelines and execution schedules.

The company has formally reported this delay, bringing it to the attention of relevant stakeholders. No further details regarding the specific nature of the delay, the stage of the clearance process, or the anticipated revised timeline were available in the source data at this time.