DIC India Limited has successfully completed its postal ballot voting process for the appointment of Mr. Avijit Mukerji as Independent Director. The company announced the results on February 13, 2026, following a comprehensive voting process conducted through remote e-voting mode.

Director Appointment Details

The special resolution sought approval for the appointment of Mr. Avijit Mukerji (DIN: 03534116) as Independent Director for a 3-year term commencing from December 10, 2025. He was earlier appointed as an additional director in the category of Independent Director before receiving formal shareholder approval through the postal ballot process.

Professional Background and Expertise

Avijit Mukerji brings extensive experience as a Chartered Accountant (FCA) with a distinguished career spanning senior leadership roles. He previously served as a Partner at Price Waterhouse and held several senior positions at PwC India, including roles on the India Board and Leadership Team. Currently, he serves as Managing Partner at Tatva Sutra Solutions LLP, specialising in equity research, advisory, and investment.

Voting Results and Shareholder Response

The resolution received overwhelming support from shareholders, with 99.95% of valid votes cast in favour of the appointment. The detailed voting breakdown demonstrates strong shareholder confidence in the proposed appointment.

Regulatory Compliance and Process

The postal ballot process was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. DIC India Limited appointed Karan Arora & Associates, Practicing Company Secretaries, as the scrutinizer for conducting the postal ballot process.

The company confirmed that Mr. Avijit Mukerji is not related to any existing directors on the board and is not debarred from holding the office of director by virtue of any SEBI order or other regulatory authority. The appointment strengthens the company's board with his expertise in financial advisory and investment management.

India is set to embark on a strategic mission to secure coking coal assets in Southeast Asia, with plans to send a delegation to Indonesia and Malaysia for high-level discussions on potential acquisitions. This initiative represents a significant step in India's efforts to strengthen its mineral security and reduce dependence on critical raw material imports.

Strategic Asset Acquisition Initiative

The Indian government has identified coking coal as a priority mineral for overseas acquisition, given its crucial role in steel production and the country's limited domestic reserves. The planned visits to Indonesia and Malaysia underscore India's commitment to diversifying its mineral supply chains through strategic partnerships and asset ownership.

Target Markets and Opportunities

Indonesia and Malaysia have been selected as key destinations for this mineral acquisition mission due to their substantial coking coal reserves and established mining infrastructure. Both countries offer attractive investment opportunities in the coal sector, with well-developed extraction capabilities and favorable geological conditions.

Economic and Strategic Implications

The acquisition of overseas coking coal assets aligns with India's broader strategy of securing critical mineral supplies for its growing industrial sector. By establishing direct ownership or partnerships in key coal-producing regions, India aims to ensure stable pricing and reliable supply chains for its steel and manufacturing industries.

Regional Cooperation Framework

This initiative reflects India's growing engagement with Southeast Asian nations in the mineral and energy sectors. The planned discussions are expected to explore various cooperation models, including joint ventures, direct acquisitions, and long-term supply agreements that benefit both Indian industry and the host countries' economic development.