Polycab India Limited has received regulatory approval for a significant corporate restructuring initiative. The National Company Law Tribunal (NCLT), Ahmedabad Bench has pronounced an order approving the scheme of amalgamation involving the company and its wholly-owned subsidiary.

NCLT Approval Details

The Hon'ble NCLT has approved the amalgamation scheme under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, read with the rules framed thereunder. The approval covers the merger of Uniglobus Electricals and Electronics Private Limited with Polycab India Limited.

Implementation Timeline

The amalgamation scheme will become effective on the date when the certified copy of the NCLT order is filed with the Registrar of Companies, Ahmedabad. This filing represents the final step in the regulatory approval process for the corporate restructuring.

Documentation and Compliance

The company has made the NCLT order publicly available on its website for stakeholder reference. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with mandatory disclosure requirements.

Corporate Structure Impact

This amalgamation represents a consolidation of operations, with the wholly-owned subsidiary Uniglobus Electricals and Electronics Private Limited merging into the parent company. Such corporate restructuring typically aims to streamline operations and optimize organizational efficiency within the group structure.

Polycab India Limited has successfully concluded its postal ballot process, with shareholders approving all five proposed resolutions through electronic voting. The company announced the results on February 23, 2026, following the completion of the e-voting period that concluded on February 22, 2026.

Approved Resolutions and Voting Results

The postal ballot covered five key corporate governance and leadership matters, all of which received strong shareholder support. The resolutions addressed independent director re-appointment and significant changes in executive leadership structure.

Leadership Restructuring Details

The most significant changes involve the elevation of two executive directors to joint managing director positions. Mr. Bharat A. Jaisinghani (DIN: 00742995) and Mr. Nikhil R. Jaisinghani (DIN: 00742771) both had their designations changed from Executive Director to Joint Managing Director effective January 16, 2026. Additionally, both executives were re-appointed as Whole-time Directors for five-year terms beginning May 13, 2026, maintaining their Joint Managing Director designations.

Shareholder Participation Analysis

The e-voting process demonstrated strong shareholder engagement across different categories:

E-Voting Process and Compliance

The postal ballot notice was issued on January 16, 2026, with the e-voting period commencing January 24, 2026, at 9:00 AM IST and concluding February 22, 2026, at 5:00 PM IST. National Securities Depository Limited served as the Electronic Voting Service Provider, facilitating the voting process through their platform at www.evoting.nsdl.com .

The company sent the postal ballot notice electronically to 3,57,394 members who had registered email addresses, out of a total 3,71,248 shareholders as of the record date January 16, 2026. For members without registered email addresses, public notices were published in Financial Express (English) and Gujarat Samachar (Gujarati) newspapers on January 24, 2026.

Scrutinizer's Certification

Mr. Avinash Bagul (Membership No. F5578/CP No. 19862), Partner of M/s. BNP & Associates, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirmed compliance with all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations, certifying that all resolutions were passed with requisite majority.

The voting results and scrutinizer's report have been made available on the company's website at www.polycab.com and on the NSDL website, ensuring transparency and regulatory compliance. All resolutions are deemed to have been passed on February 22, 2026, the last date of the e-voting period.