CG Power & Industrial Solutions Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the re-appointment of Mr. Sriram Sivaram as Non-Executive Independent Director. The special resolution was passed on March 6, 2026, following an extensive e-voting process that demonstrated strong shareholder confidence in the company's board composition.

Voting Results and Shareholder Participation

The postal ballot witnessed significant shareholder participation, with detailed voting results reflecting broad-based support across all categories of shareholders:

Category-wise Voting Pattern

The voting results demonstrated unanimous support from the promoter group and strong approval from public shareholders:

E-voting Process and Timeline

The company conducted the postal ballot exclusively through electronic voting, utilizing NSDL as the service provider. The e-voting process commenced on February 4, 2026, at 9:00 a.m. and concluded on March 5, 2026, at 5:00 p.m. The postal ballot notice was dispatched on February 3, 2026, with the cut-off date set as February 1, 2026.

Scrutinizer's Validation

Prashant S. Mehta of P. Mehta & Associates, Practicing Company Secretaries, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report, dated March 6, 2026, confirmed that the special resolution was passed with requisite majority in compliance with Section 108 and 110 of the Companies Act, 2013.

Resolution Details

The special resolution pertained to the re-appointment of Mr. Sriram Sivaram (DIN: 01070444) as a Non-Executive Independent Director of the company. The resolution was classified as one where promoters and promoter group had no specific interest, ensuring independent shareholder decision-making.

The voting results and scrutinizer's report have been made available on the company's website at www.cgglobal.com , maintaining transparency in the corporate governance process. The successful completion of this postal ballot reinforces shareholder confidence in the company's leadership and governance framework.

CG Power & Industrial Solutions Limited has entered into an agreement to divest its controlling stake in its Indonesian subsidiary, marking a strategic exit from a non-operational venture. The company disclosed this development through a regulatory filing under SEBI Listing Regulations on March 5, 2026.

Transaction Details

The divestment involves the sale of CG Power's 51% stake in PT Crompton Prima Switchgear Indonesia (CPSI) to its existing joint venture partner PT Prima Layanan Nasional Enjiniring (PLNE). The transaction has been structured through CG International Holdings Singapore Pte Ltd. (CGS), which is a wholly owned foreign subsidiary of CG Power.

Subsidiary Background

CPSI was established as a joint venture between CGS and PLNE, with the companies holding 51% and 49% stakes respectively. The subsidiary is currently non-operational and contributed nil turnover, revenue, income, and net worth to CG Power during the last financial year. Prior to this share sale agreement, CPSI had already sold all its factory assets including land, plant and machinery, furniture, and equipment to PLNE in February 2026.

Financial and Strategic Impact

The company has indicated that there will be no adverse financial impact on its financial statements as a result of this transaction. The nominal consideration of IDR 1 reflects the non-operational status of the subsidiary and the prior asset disposal.

Key aspects of the transaction include:

• The buyer does not belong to the promoter or promoter group
• The transaction does not qualify as a related party transaction
• No scheme of arrangement is involved in the disposal

Regulatory Compliance

The divestment has been disclosed in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Upon completion of the transaction, CPSI will cease to be a subsidiary of CGS and consequently a step-down subsidiary of CG Power and Industrial Solutions Limited.

The transaction is subject to the fulfillment of terms and conditions by all parties as specified in the Conditional Shares Purchase Agreement. This strategic move allows CG Power to exit from a non-contributing asset while enabling its local partner to gain full control of the Indonesian entity.