Maral Overseas Limited , a prominent player in the textile industry, has successfully concluded its postal ballot process with shareholders overwhelmingly approving the appointment of Shri Suman Jyoti Khaitan as an Independent Director. The company received official confirmation through the scrutinizer's report and formally announced the results on December 22, 2025.

Postal Ballot Results

The remote e-voting process concluded on December 20, 2025, at 5:00 p.m. (IST), with shareholders demonstrating exceptional support for the proposed appointment. The voting results show overwhelming approval:

The scrutinizer's report, prepared by Manisha Gupta (FCS M.No. 6378), confirmed that the special resolution received the requisite majority for approval. The voting process was conducted through National Securities Depositories Limited (NSDL) as the authorized e-voting agency.

Director Appointment Details

Shri Suman Jyoti Khaitan (DIN: 00023370) has been appointed as Additional Director (Non-Executive Independent) for a five-year term starting November 4, 2025, and continuing until November 3, 2030. Khaitan, a practicing advocate since 1985, brings extensive experience in various legal fields, including corporate law, arbitration, and regulatory compliance.

Professional Background

Khaitan is the Founder CEO of Law Firms, Suman Khaitan & Co. and Khaitan Partners, both full-service law firms based in New Delhi with associates in major Indian cities including Bengaluru, Chandigarh, Chennai, Jaipur, Kolkata, and Mumbai. His expertise spans diverse practice areas including arbitration, aviation, banking, bankruptcy & insolvency, business restructuring, competition law, infrastructure, insurance, intellectual property, litigation, overseas investments & acquisitions, power, real estate, schemes of amalgamations, demergers, takeovers, tax planning, telecom, and trusts.

Voting Process Framework

The postal ballot was conducted in accordance with Section 108 and Section 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Khaitan is not related to any existing director and is not debarred from holding directorship by SEBI or any other authority.

The successful approval of Shri Suman Jyoti Khaitan's appointment strengthens Maral Overseas' board composition with valuable legal and corporate governance expertise, particularly beneficial given his extensive experience in corporate law, regulatory compliance, and his current independent director roles with other listed companies.

Maral Overseas Limited , a prominent player in the textile industry, has reported its financial results for the quarter ended June 30, along with key corporate decisions approved by its Board of Directors.

Financial Performance

The company reported a net loss of ₹1,256.98 lakh for the quarter, compared to a loss of ₹644.83 lakh in the same quarter last year. This represents a significant increase in losses year-over-year. The revenue from operations declined to ₹22,549.59 lakh from ₹25,092.28 lakh in the corresponding quarter, indicating a challenging market environment.

Segment-wise Performance

The company operates in three segments:

1. Yarn Segment
2. Fabric Segment
3. Garment Segment

The garment segment reported the highest losses during the quarter.

Corporate Actions

The Board of Directors, in their meeting, approved several significant measures:

1. Preference Share Issuance: The board approved the issuance of up to 30 lakh redeemable non-convertible cumulative preference shares at 9.25% annual interest rate. These shares, with a face value and issue price of ₹100 each, will be offered to promoters and promoter groups on a private placement basis.

2. Memorandum of Association (MOA) Amendment: The board approved alterations to the company's MOA to include electricity generation for captive consumption as a main business object. This change aligns with the requirements of the Madhya Pradesh Electricity Regulatory Commission.

Both the preference share issuance and MOA changes are subject to shareholder approval at the Annual General Meeting scheduled for August 29.

Outlook

While Maral Overseas faces challenges reflected in its quarterly losses, the company is taking strategic steps to strengthen its financial position and diversify its operations. The preference share issuance could provide additional capital, while the move towards captive power generation may help in reducing operational costs in the long term.

Investors and stakeholders will be watching closely to see how these measures impact the company's performance in the coming quarters.