3M India Limited, a diversified technology company, has initiated a postal ballot process to seek shareholder approval on four crucial resolutions. The e-voting period is set from February 23 to March 24, 2021, with results to be announced on March 26, 2021.

Key Resolutions

Re-appointment of Independent Director

• Radhika Rajan is proposed for re-appointment as a Non-Executive Independent Director.
• The resolution seeks approval for a second five-year term, effective from May 27, 2021.

Appointment of New Director and CFO

• Mamata Janak Gore's appointment as Director and Whole-time Director & Chief Financial Officer is up for regularization.
• The proposed tenure is for three years, starting from September 1, 2020.
• Gore's remuneration as Whole-time Director is capped at Rs. 25.00 lakhs per month for the three-year period.

Appointment of New Director

• James Ernest Falteisek's appointment as Director is proposed for regularization.
• The appointment is effective from September 1, 2020.

E-Voting Process

Due to ongoing COVID-19 restrictions, 3M India has opted for an entirely electronic voting process. Shareholders are required to cast their votes through e-voting platforms, eschewing the traditional physical ballot system.

This move aligns with the company's commitment to maintaining corporate governance standards while ensuring the safety of its shareholders during the pandemic. The outcome of this postal ballot will shape the leadership structure of 3M India for the coming years, potentially influencing the company's strategic direction and operational efficiency.

Shareholders are encouraged to participate in this crucial decision-making process by exercising their voting rights before the March 24, 2021 deadline. The results of the postal ballot, to be declared on March 26, 2021, will be closely watched by investors and industry observers alike.

3M India Limited , a diversified technology company, has successfully resolved its tax disputes for the fiscal year 2011-12 (FY12) through the government's Vivad Se Vishwas Scheme. The company recently received a final settlement order from the Principal Commissioner of Income Tax, Bengaluru-2, marking the conclusion of its tax-related matters for that fiscal year.

Settlement Details

The settlement was achieved under the Direct Tax Vivad Se Vishwas Scheme, 2024, which was introduced by the Finance (No. 2) Act, 2024 to resolve pending tax disputes. 3M India had opted to settle open tax litigations for the period from FY 2004-05 to FY 2013-14 through this scheme.

For FY 2011-12 specifically, the company had filed two separate applications to settle distinct tax disputes. The Principal Commissioner of Income Tax had previously accepted both applications and issued Certificates in Form 2. The latest development involves the receipt of the final order in Form 4, dated August 26, 2025, for the second application related to FY 2011-12.

Financial Implications

According to the disclosure made by 3M India to the stock exchanges:

• The aggregate tax amount determined under the Scheme for the second application for FY 2011-12 was Rs 1.94 crore.
• This amount has already been paid by the company.
• 3M India has stated that this settlement has no material impact on the company's operations or activities.

Additional Settlement for FY 2012-13

In a separate but related development, 3M India also received a final settlement order for its tax disputes pertaining to FY 2012-13 on the same date. The details of this settlement include:

• An aggregate tax amount of Rs 6.96 crore for FY 2012-13, which has also been paid.
• Similar to the FY 2011-12 settlement, this resolution is reported to have no material impact on the company's operations.

Company's Stance

3M India's decision to participate in the Vivad Se Vishwas Scheme demonstrates the company's commitment to resolving long-standing tax issues and ensuring compliance with Indian tax laws. By settling these disputes, the company aims to reduce its legal and financial uncertainties related to past tax matters.

The resolution of these tax disputes under the Vivad Se Vishwas Scheme is expected to provide clarity on 3M India's tax position for the concerned fiscal years and potentially streamline its tax compliance processes going forward.

Investors and stakeholders may view this development positively, as it indicates the company's proactive approach to addressing and resolving regulatory matters.