Kalyani Steels has issued a notice of postal ballot seeking member approval for the appointment of Mr. Ajay Kirtane as an independent director. The board appointed him as an additional independent director on September 7, 2026, subject to this shareholder ratification.

The company published the ballot intimation in newspapers on September 18, 2026, confirming the dispatch of the Postal Ballot Notice via electronic mode on September 17, 2026. This move aligns with Regulation 44 of the SEBI Listing Regulations and Section 110 read with Section 108 of the Companies Act, 2013.

Voting Details

The company engaged National Securities Depository Limited (NSDL) to facilitate e-voting. Members holding shares as on the cut-off date of September 11, 2026, are eligible to vote. The electronic voting window is open for one month.

The results will be uploaded to the company’s website and the NSDL e-voting portal. A special resolution requires a requisite majority to pass. The resolution is deemed passed on the last day of e-voting if approved.

Candidate Profile

Mr. Kirtane brings over 34 years of experience in financial management, debt syndication, mergers and acquisitions, and private equity. He holds a B.Com degree from Pune University and is a qualified Cost and Works Accountant. He previously served as a founder and associate member of Shah & Kirtane, a management consultancy firm, until his retirement on March 31, 2025.

The Nomination and Remuneration Committee cited his expertise in financial management and corporate strategy as key factors for his selection. He declared independence under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the Listing Regulations. He currently holds no shareholding in the company.

Remuneration Structure

Mr. Kirtane will receive remuneration through sitting fees for attending board and committee meetings. Additionally, he may be entitled to commission determined by the board based on NRC recommendations, within the limits prescribed by the Companies Act. No prior remuneration was drawn from the company.

M/s. SVD & Associates, Company Secretaries, have been appointed as scrutinizers to oversee the voting process. Corporate and institutional members must submit proof of authorization for their representatives to vote.

Kalyani Steels has appointed Ajay Kirtane as an additional independent director on its board. The five-year term begins on September 7, 2026, and ends on September 6, 2031.

The Board of Directors approved the appointment via circular resolution on September 7, 2026. The decision follows a recommendation from the Nomination and Remuneration Committee. Shareholders must approve the appointment through a postal ballot for it to take final effect.

Regulatory Compliance

The company made the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2//3762/2026 dated January 30, 2026.

Kalyani Steels confirmed that Mr. Kirtane has not been debarred from holding the office of director by any order issued by SEBI or any other authority. This confirmation aligns with circulars issued by both the National Stock Exchange of India Limited and BSE Limited on June 20, 2018.

Profile of New Director

Mr. Kirtane brings over 34 years of experience in financial management, debt syndication, mergers and acquisitions, and private equity. He is qualified as a Cost and Works Accountant.

He was the founder and associate member of the management consultancy firm Shah & Kirtane. He retired from the firm effective March 31, 2025. The consultancy handled corporate and commercial projects across engineering, infrastructure, real estate, and auto component industries.

The company stated that Mr. Kirtane is not related to any current director of Kalyani Steels.