Kkalpana Plastic Limited confirmed the passage of all five resolutions at its 37th Annual General Meeting held on September 23, 2026. The company’s scrutinizer report revealed that the promoter and promoter group accounted for 72.58% of the total votes cast, effectively determining the outcome of every agenda item.

The meeting, conducted via video conferencing, was chaired by Whole-Time Director Sajjan Kumar Sharma. Company Secretary Navdeep Bhansali confirmed the requisite quorum. The proceedings included the adoption of audited financial statements for FY26 and the reappointment of key directors, including Sharma as Whole-Time Director and Rashi Nagori Mehta and Shampa Paul as Independent Directors.

Voting results and shareholder participation

The scrutinizer, Ashok Kumar Daga, submitted a report detailing the voting patterns across all five resolutions. A total of 40,12,629 votes were polled out of 55,28,535 outstanding shares. The data highlights a significant concentration of voting power among promoters, who voted in favor of all resolutions without dissent.

Public non-institutional shareholders constituted the only source of dissent, casting 8 votes against various resolutions. Institutional investors did not participate in the voting process.

What the numbers show

The voting data indicates a high degree of alignment between management and the promoter group, which holds a dominant position in the shareholder structure. With promoters controlling 72.58% of the total votes cast, the outcome of the AGM was mathematically predetermined regardless of public shareholder sentiment. The dissenting votes, totaling just 8 shares, represent a negligible fraction of the total poll, suggesting either low public engagement or strong satisfaction with the board’s proposals.

Directorial appointments and governance

Shareholders approved the reappointment of Sajjan Kumar Sharma as Whole-Time Director for a five-year term effective November 1, 2026. The resolution cited compliance with Sections 196, 197, and 198 of the Companies Act, 2013.

Additionally, the meeting ratified the second-term appointments of two Independent Directors:

• Rashi Nagori Mehta: Appointed for five years from September 29, 2026, to September 28, 2031.
• Shampa Paul: Appointed for five years from April 15, 2027, to April 14, 2032.

Both independent directors submitted declarations confirming their eligibility under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of SEBI Listing Regulations. The board also approved the reappointment of Ananya Dey, who retired by rotation under Section 152(6).

The open offer by Ashish Begwani to acquire a 26.00% stake in Kkalpana Plastick Limited (KPL) officially opened on August 20, 2026. The acquirer seeks to purchase up to 14,37,420 equity shares from public shareholders.

VC Corporate Advisors Private Limited, the manager to the offer, published the Offer Opening Public Announcement cum Corrigendum to the Detailed Public Statement in compliance with Regulation 18(7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Timeline and Regulatory Context

Kkalpana Plastick Limited had previously informed stock exchanges that its Committee of Independent Directors completed its review of the open offer on August 17, 2026. The committee meeting was held at the company's registered office in Kolkata from 11:00 am to 12:00 pm.

The initial review was conducted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The open offer itself is governed by Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011.

Offer Details

Publication and Next Steps

The announcement was published in Financial Express (English), Jansatta (Hindi), Pratahkal (Marathi), and Arthik Lipi (Bengali).

The independent directors' recommendations will be published in the same newspapers where the Detailed Public Statement dated July 14, 2026, appeared. Copies will be furnished to SEBI, BSE Limited, The Calcutta Stock Exchange Limited, and VC Corporate Advisors Private Limited.