Mangalam Worldwide Limited issued a postal ballot notice on September 7, 2026, seeking shareholder approval for the appointment of Keyoor Madhusudan Bakshi as an independent director and the enhancement of remuneration for Mrs. Rashmi Mangal.

The board approved the draft notice during its meeting on September 3, 2026. The resolutions require shareholder assent via remote e-voting, with the voting window open from September 9, 2026, to October 8, 2026.

Director Appointment

Mr. Keyoor Madhusudan Bakshi (DIN: 00133588) was appointed as an additional non-executive, independent director effective September 3, 2026. The Nomination and Remuneration Committee recommended the appointment for a consecutive period of five years, subject to shareholder approval.

Mr. Bakshi brings over 46 years of experience in corporate laws, finance, and governance. He is a Fellow Member of the Institute of Company Secretaries of India (ICSI) and holds B.Com. and LL.B. degrees. His expertise covers corporate compliance, secretarial audit, mergers and acquisitions, insolvency resolution, and representation before regulatory bodies including SEBI and NCLT.

He previously served as President of ICSI in 2008 and President of the International Federation of Company Secretaries. His prior board roles include positions at Gokul Agro Resources Limited, Infibeam Avenues Limited, and Tudor India Limited.

Remuneration Approval

The second resolution seeks approval for the payment of remuneration to Mrs. Rashmi Mangal, who holds an office or place of profit in the company as a Member of the Advisory Board. Mrs. Mangal is the spouse of Chairman Mr. Vipin Prakash Mangal and mother of Managing Director Mr. Chandragupt Mangal and Non-Executive Director Mr. Chanakya Prakash Mangal.

The proposed enhancement raises the prescribed limit of remuneration payable to Mrs. Mangal to not exceeding ₹10,00,000 per month, effective October 15, 2026. Her last drawn remuneration was ₹2,50,000 per month. The increase requires shareholder approval under Section 188(1)(f) of the Companies Act, 2013, as the monthly remuneration exceeds the stipulated limit.

Postal Ballot Process

The company engaged MUFG Intime India Private Limited to provide the remote e-voting facility via its InstaVOTE platform. Members holding shares as on the cut-off date of September 4, 2026, are eligible to vote.

M/s. Manoj Hurkat & Associates, Practicing Company Secretary, has been appointed as the Scrutinizer to ensure a fair and transparent ballot process. The results of the e-voting will be announced within two working days from the conclusion of the e-voting period, on or before October 10, 2026.

The process uses an e-voting facility in accordance with Section 110 of the Companies Act, 2013. Physical copies of the notice and forms are not being sent; communication is electronic only.

Mangalam Worldwide has been approved as a vendor for ADNOC, marking a significant recognition of its stainless steel production capabilities against global standards.

Vendor approval and its significance

The approval positions Mangalam Worldwide as a qualified supplier to ADNOC, one of the world's leading energy companies. Achieving approved vendor status with a major energy sector player of this scale reflects the company's adherence to internationally recognised quality benchmarks in stainless steel manufacturing.

Strengthening presence in energy markets

The development enhances Mangalam Worldwide's standing in global energy markets. Approved vendor status with ADNOC signals that the company's stainless steel products meet the stringent procurement and quality requirements typically demanded by large-scale energy sector operations.

This milestone underscores Mangalam Worldwide's capability to compete and qualify within demanding international supply chains, particularly in the energy sector where material quality and reliability are critical procurement criteria.