PDS Limited has successfully concluded its postal ballot process with shareholders approving all five proposed resolutions through remote e-voting. The results were declared on March 14, 2026, following the completion of the voting process that commenced on February 13, 2026.

Postal Ballot Results Overview

The company received overwhelming shareholder support across all resolutions, with 92,868,795 votes polled out of 141,378,383 total shares, representing a 65.69% participation rate. The voting process was conducted entirely through electronic means, with 31,233 shareholders eligible to participate as of the cut-off date of February 6, 2026.

ESOP Framework Enhancement

The approved amendments significantly expand the company's Employee Stock Option Plan framework. The existing PDS Limited - Employees Stock Option Plan B ("PDS ESOP (B) 2021"), originally approved at the 10th Annual General Meeting on July 30, 2021, had reached ~84.08% utilization of its 5,06,740 options pool.

Corporate Restructuring Approval

Shareholders unanimously approved the relocation of the company's registered office from Maharashtra to Haryana, receiving the highest approval rate of 99.9983%. This strategic move aligns with the company's operational requirements and regulatory compliance objectives.

Voting Process and Compliance

The postal ballot process was conducted under the supervision of Sunny Gogiya from SGGS & Associates, who served as the scrutinizer. MUFG Intime India Private Limited (formerly Link Intime India Private Limited) facilitated the e-voting process as the Electronic Voting Service Provider. The company maintained full compliance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations.

The approved resolutions enable the company to extend ESOP benefits to subsidiary employees, authorize the PDS Multinational Fashions ESOP Trust for secondary market acquisitions, and provide necessary financial assistance for ESOP implementation. These measures strengthen the company's employee retention and reward framework while ensuring adequate pool availability for future grants to eligible employees across the organization.

PDS Limited has completed the dissolution of its step-down subsidiary Fareast Vogue Limited, with the dissolution taking effect from February 27, 2026. The company received confirmation of the dissolution on March 5, 2026, and has informed the stock exchanges through a regulatory filing under SEBI Listing Regulations.

Dissolution Details and Timeline

The dissolution was executed as part of PDS Group's ongoing initiative to streamline its corporate structure by eliminating non-operational and redundant entities. Fareast Vogue Limited was a step-down subsidiary based in Hong Kong, held through Techno Design HK Limited, another step-down subsidiary of PDS.

Financial Impact Assessment

The company has clarified that the dissolution will not have any material impact on its financial position. According to the regulatory disclosure, Fareast Vogue Limited had no active business operations and contributed zero turnover to the consolidated revenue.

Regulatory Compliance

PDS Limited has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company filed the required intimation with both NSE and BSE, providing comprehensive details about the dissolution in accordance with SEBI circular requirements.

The dissolution marks the completion of a corporate restructuring process that was initially announced in early 2024, demonstrating PDS Limited's commitment to optimizing its subsidiary structure and focusing resources on operational entities.