Ashoka Metcast Limited has announced the regularization of Mr. Kunjan Nathabhaji Rathod's appointment as Non-Executive Independent Director following approval through postal ballot. The company informed stock exchanges about this directorate change under Regulation 30 of SEBI listing requirements.

Director Appointment Details

The members of the company approved the regularization through a special resolution passed via postal ballot using remote e-voting. The appointment details are structured as follows:

Professional Background

Mr. Rathod brings significant industry experience to the board. According to the company's disclosure, he has over five years of extensive experience in managing transport and logistics business. His professional profile highlights strong management and leadership skills with a proven ability to drive business growth and operational efficiency.

Regulatory Compliance

The company has affirmed compliance with regulatory requirements regarding the appointment. As per SEBI Circular No. LIST/COMP/14/2018-19 dated 20th June, 2018, Ashoka Metcast confirmed that Mr. Rathod has not been debarred from holding the office of Director by SEBI or other authorities.

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with detailed information provided as required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.

Board Independence

The company disclosed that there are no relationships between the newly appointed director and existing board members, maintaining the independence criteria for the position. This appointment strengthens the company's board composition with additional expertise in logistics and transport management sectors.

Ashoka Metcast Limited has successfully concluded its postal ballot process on March 4, 2026, with shareholders approving two critical special resolutions with substantial majority support. The company conducted the voting process through remote e-voting mechanism under the supervision of appointed scrutinizer Mr. Chintan K. Patel and subsequently filed the results with BSE and NSE exchanges.

Postal Ballot Process Overview

The postal ballot was conducted pursuant to Sections 108, 110 and other applicable provisions of the Companies Act, 2013, along with Regulation 44 of the SEBI Listing Regulations. The remote e-voting process commenced on February 3, 2026 at 9:00 A.M. and concluded on March 4, 2026 at 5:00 P.M.

Resolution Results

Resolution 1: Director Appointment Regularization

The first special resolution concerning the regularization of appointment of Mr. Kunjan Nathabhaji Rathod (DIN: 10964701) as Non-Executive Independent Director received strong shareholder support.

Resolution 2: Memorandum Alteration for Commodity Trading

The second special resolution for alteration (addition) in Object Clause of the Memorandum of Association achieved near-unanimous approval, enabling the company to expand into commodity trading business.

New Business Objective: Commodity Trading

The approved memorandum alteration introduces a comprehensive commodity trading objective as Clause III [A] (6) in the Main Object Clause. The new business scope encompasses trading, buying, selling, importing, exporting, investing in, arbitraging, hedging and dealing in commodities of every kind and description permitted by law.

Regulatory Filing and Compliance

The company filed the voting results with BSE (Security Code: 540923) and NSE (Symbol: ASHOKAMET) on March 4, 2026, as required under Regulation 30 of SEBI Listing Regulations. Managing Director Ashok C. Shah (DIN: 02467830) signed the regulatory filing, confirming compliance with all applicable provisions including SEBI Master Circular requirements.

Voting Participation Analysis

The postal ballot witnessed significant participation from the promoter and promoter group, who hold 13410000 shares and voted unanimously in favor of both resolutions. Public non-institutional shareholders showed active participation with over 140000 votes polled across both resolutions, representing strong engagement in the company's strategic expansion plans.

Both special resolutions have been deemed passed with the requisite majority, enabling the company to proceed with director regularization and commence commodity trading operations as approved by shareholders. The voting results and scrutinizer's report are available on the company's website and CDSL's e-voting platform.