Kokuyo Camlin Limited has successfully concluded its postal ballot process, announcing results on March 27, 2026, for three special resolutions related to executive remuneration. The company reported that all proposed resolutions were passed with requisite majority, reflecting strong shareholder support for the management's compensation proposals.

Postal Ballot Process Overview

The postal ballot voting process was conducted entirely through remote e-voting, with no physical polling or traditional postal ballots used. The company provided comprehensive details of the voting timeline and shareholder participation.

Resolution Results Summary

All three special resolutions achieved overwhelming approval from shareholders, with voting percentages exceeding 99.97% in favor across all proposals.

Resolution 1: Chairman Remuneration

The first resolution concerned payment of remuneration by way of perquisites to Mr. Dilip D. Dandekar (DIN: 00846901), Chairman & Non-Executive Director. This resolution received strong support across all shareholder categories.

Resolution 2: Vice Chairman Remuneration

The second resolution addressed payment of remuneration by way of perquisites to Mr. Shiram S. Dandekar (DIN: 01056318), Vice Chairman & Non-Executive Director, achieving similar approval levels.

Resolution 3: Managing Director Remuneration Revision

The third resolution involved revision in remuneration payable to Mr. Satish Veerappa (DIN: 00507955), Managing Director, which was the only resolution where promoter groups were not interested parties.

Scrutinizer Validation

The postal ballot process was overseen by S. J. Ranade, Partner of JHR & Associates, Practicing Company Secretaries, who served as the appointed Scrutinizer. The scrutinizer's report confirmed the validity of the voting process and results, with the detailed voting summary generated from the National Securities Depository Limited (NSDL) portal in the presence of independent witnesses Ms. Bhavana Gowda and Mr. Ojas Moghe.

Regulatory Compliance

The results were declared in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made the complete voting results available on its website at www.kokuyocamlin.com and submitted the necessary documentation to both BSE Limited and National Stock Exchange of India Limited.

Kokuyo Camlin Limited has informed stock exchanges about receiving an income tax assessment order that has resulted in a significant demand from the Income Tax Department. The company disclosed this development under Regulation 30 of SEBI Listing Regulations on March 23, 2026.

Assessment Order Details

The company received an assessment order dated March 20, 2026, passed under Section 147 of the Income Tax Act, 1961, for Assessment Year 2018-19. The order was issued by the Office of DS Income Tax, assessment unit, Income Tax Department, National faceless unit, India.

Nature of Allegations

The Income Tax Department has alleged discrepancies in balances of certain trade creditors and treated them as unexplained liabilities. Consequently, additions have been made to income and such amounts are being taxed under Section 115BBE of the Income Tax Act.

The assessment order also involves:

• Re-computation of book profits under Section 115JB (MAT)
• Interest charges under sections 234A, 234B, 234C and 234D of the Income Tax Act, 1961
• Treatment of trade creditor balances as unexplained liabilities

Company's Response Strategy

Kokuyo Camlin has indicated that it is evaluating the assessment order and believes it to be erroneous in nature. The company has identified apparent mistakes in the re-computation of income and book profits.

Planned Legal Actions

Financial Impact Assessment

The company has stated that based on its preliminary assessment, it does not expect any material impact on its financial position at this stage. This assessment is contingent on the company's planned legal remedies and rectification process.

The disclosure was made on the first working day after receipt of the order, in compliance with regulatory requirements under SEBI Listing Regulations.