News Corporate Actions Laxmi Organic Industries Shareholders Approve Re-appointment of Independent Director Through Postal BallotLaxmi Organic Industries Shareholders Approve Re-appointment of Independent Director Through Postal Ballot
Laxmi Organic Industries Limited successfully completed its postal ballot for re-appointing Dr. Rajiv Banavali as Independent Director, receiving 99.93% shareholder approval. The remote e-voting process involved 345 members casting 205935598 votes, with the appointment effective from May 18, 2026 to May 17, 2028. The process was conducted in full regulatory compliance with scrutinizer M/s GMJ & Associates overseeing the proceedings.
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Laxmi Organic Industries Limited has successfully completed its postal ballot process for the re-appointment of Dr. Rajiv Banavali as an Independent Director. The company announced the voting results on March 10, 2026, following the conclusion of the remote e-voting process that ran from February 07, 2026 to March 08, 2026.
Overwhelming Shareholder Support
The postal ballot received strong endorsement from shareholders, with the special resolution securing approval from 99.93% of the votes cast. The voting process was conducted exclusively through remote e-voting, in compliance with regulatory requirements and current guidelines.
| Voting Details: | Count | Votes | Percentage |
|---|---|---|---|
| Total Members Voted: | 345 | 205935598 | 100.00% |
| Votes in Favor: | 295 | 205789451 | 99.93% |
| Votes Against: | 49 | 146065 | 0.07% |
| Valid Votes: | 344 | 205935516 | 100.00% |
Director Appointment Details
Dr. Rajiv Banavali, holding DIN 09128266, has been re-appointed as an Independent Director for his second term. The appointment will be effective from May 18, 2026, and will continue until May 17, 2028, spanning a period of two years.
| Appointment Parameters: | Details |
|---|---|
| Director Name: | Dr. Rajiv Banavali |
| DIN: | 09128266 |
| Position: | Independent Director |
| Term: | Second term (2 years) |
| Effective From: | May 18, 2026 |
| Term End: | May 17, 2028 |
Voting Process and Timeline
The postal ballot process was initiated with a notice dated January 29, 2026, and the voting period commenced on February 07, 2026 at 09:00 a.m. IST. The e-voting facility remained available until March 08, 2026 at 05:00 p.m. IST. The cut-off date for determining eligible voters was set as January 30, 2026, based on the register of members and beneficial owners' list from depositories.
Scrutinizer's Report
M/s GMJ & Associates, Company Secretaries, represented by CS Mahesh Soni, served as the scrutinizer for the postal ballot process. The scrutinizer was appointed on January 29, 2026, and conducted the entire process in accordance with Section 108 and 110 of the Companies Act, 2013, and relevant SEBI regulations. The votes were unblocked on March 09, 2026 at 03:18 p.m. IST in the presence of two independent witnesses.
Regulatory Compliance
The postal ballot was conducted in full compliance with the provisions of the Companies Act, 2013, Companies (Management and Administration) Rules, 2014, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made the voting results and scrutinizer's report available on its website and the registrar's portal for transparency and regulatory compliance.
Historical Stock Returns for Laxmi Organic Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.88% | +0.64% | -19.99% | -47.14% | -32.73% | -25.58% |
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