Crest Ventures Limited has successfully concluded its postal ballot process for the appointment of an Independent Director, with shareholders demonstrating strong support for the corporate governance initiative. The company submitted the minutes of the postal ballot proceedings to stock exchanges on February 25, 2026, following the conclusion of the e-voting process on January 29, 2026.

Postal Ballot Process and Timeline

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and related rules. The company issued the postal ballot notice on December 18, 2025, seeking shareholder consent for the appointment of Mr. Jagdish Mohan Kirpalani as Non-Executive Independent Director.

Overwhelming Shareholder Approval

The special resolution for Mr. Jagdish Mohan Kirpalani's appointment received exceptional shareholder support, demonstrating confidence in the company's governance decisions. M/s. Rathi & Associates, Company Secretaries, served as the scrutinizer for the postal ballot process, while National Securities Depository Limited (NSDL) provided the remote e-voting platform.

Director Appointment Details

Mr. Jagdish Mohan Kirpalani (DIN: 01673553) was initially appointed as Additional Director (Non-Executive, Independent) with effect from November 01, 2025, following recommendations from the Nomination and Remuneration Committee and Board approval on October 30, 2025. The postal ballot formalized his appointment as a regular director.

Key aspects of the appointment include:

• Position: Non-Executive, Independent Director
• Term Duration: 5 consecutive years
• Term Period: November 01, 2025 to October 31, 2030
• Rotation Status: Not subject to retirement by rotation
• Independence Confirmation: Declaration submitted as per Section 149(6) of Companies Act, 2013

Regulatory Compliance and Documentation

The appointment process adhered to multiple regulatory frameworks including the Companies Act, 2013, SEBI Listing Regulations, and RBI directions for Non-Banking Financial Companies. The company ensured compliance with all applicable provisions related to director appointments and postal ballot procedures.

Ms. Namita Bapna, Company Secretary & Compliance Officer, was duly authorized by the Board to declare the postal ballot results. The company published public advertisements regarding the postal ballot on December 30, 2025, in Financial Express (English) and Mumbai Lakshadeep (Marathi) newspapers, ensuring proper shareholder communication.

The successful completion of this postal ballot process strengthens the company's board composition with the addition of an independent director, enhancing corporate governance standards and regulatory compliance.

Crest Ventures Limited has issued a postal ballot notice seeking shareholder approval for a key board appointment through electronic voting. The company announced the postal ballot process on February 25, 2026, for the appointment of Mr. Rajeev Sharma as Non-Executive, Non-Independent Director.

Postal Ballot Details

The postal ballot notice, dated February 13, 2026, proposes one ordinary resolution for shareholder consideration:

E-Voting Schedule

The company has established a comprehensive timeline for the electronic voting process:

Director Profile and Background

Mr. Rajeev Sharma brings extensive experience to the board position. He is a qualified Chartered Accountant, Company Secretary, Cost and Management Accountant, and holds certifications as a Certified Information System Auditor and Certified Fraud Examiner. With over 35 years of experience in Consulting, IT and Outsourcing Industry, he has been involved in large IT projects and possesses deep domain knowledge.

Mr. Sharma previously served as an Independent Director of the company from November 02, 2015, completing his second term on November 01, 2025, upon reaching the maximum tenure permissible under the Companies Act, 2013. During his tenure, he served as Chairman/Member of various key committees including the Audit Committee, Nomination and Remuneration Committee, Risk Management Committee, and Corporate Social Responsibility Committee.

Regulatory Approvals

The appointment has received necessary regulatory clearances:

Voting Process

Shareholders can participate in the voting process exclusively through electronic means. The company has engaged National Securities Depository Limited (NSDL) to provide the e-voting platform. M/s. Rathi & Associates, Practicing Company Secretaries, Mumbai, have been appointed as the Scrutinizer to oversee the voting process.

The postal ballot notice has been dispatched electronically to shareholders whose email addresses are registered with the company, registrar, or depositories as on the cut-off date of February 13, 2026. Physical copies of the notice will not be sent in compliance with Ministry of Corporate Affairs circulars.