DIC India Limited, a prominent player in the Indian manufacturing sector, has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Navapol Chuensiri as a Non-Executive Non-Independent Director on its board. This move comes as part of the company's efforts to strengthen its leadership team and drive growth in the Asia Pacific region.

Key Details of the Appointment

• Appointment Date: Mr. Chuensiri was initially appointed as an Additional Director by the Board on August 13, 2025.
• Position: Non-Executive Non-Independent Director, liable to retire by rotation.
• Current Role: Deputy Regional Managing Director of DIC Asia Pacific Pte Ltd.

Voting Process

The company has outlined the following details for the e-voting process:

• E-voting Period: September 15, 2025 (9:00 AM) to October 14, 2025 (5:00 PM)
• Cut-off Date for Eligibility: September 5, 2025
• Result Declaration: On or before October 15, 2025

Professional Background

Mr. Navapol Chuensiri brings a wealth of experience to DIC India:

• Experience: 30 years of broad leadership experience in global companies
• Previous Associations: SIG Combibloc, Tetra Pak, Amcor, Goodyear Tyre & Rubber, and O-I Glass
• Board Experience: Former board member of SIG Combibloc and O-I Glass
• Education:
  • Bachelor's and Master's degrees in Mechanical Engineering from Oregon State University, USA
  • Master's degree in Organizational Communication

Strategic Importance

Mr. Chuensiri's appointment is viewed as strategic for DIC India's growth plans:

• Expected to support the development of a robust and sustainable structural platform
• Aimed at driving business growth in the Asia Pacific Region
• Brings international experience, having lived, studied, and worked across multiple countries

Shareholder Action Required

Eligible shareholders are encouraged to participate in the e-voting process through the National Securities Depository Limited (NSDL) e-voting system. The company has appointed Karan Arora & Associates as the scrutinizer to ensure a fair and transparent voting process.

DIC India Limited's move to appoint Mr. Navapol Chuensiri reflects the company's commitment to enhancing its board with experienced professionals. Shareholders now have the opportunity to vote on this significant appointment, which could potentially influence the company's strategic direction in the Asia Pacific market.

DIC India Limited (NSE: DICIND, BSE: 500089) is facing a new legal challenge as the Income Tax Department has filed an appeal against the company in the Kolkata High Court. The appeal contests a previous ruling by the Income Tax Appellate Tribunal (ITAT) that was favorable to DIC India.

Dispute Details

The tax dispute centers around two key issues:

1. Royalty expenses
2. Transfer pricing adjustments

These matters pertain to the assessment year 2014-15, with the contested tax amount totaling INR 2.96 crores.

Timeline of Events

• The ITAT had previously ruled in favor of DIC India.
• Approximately two years after the ITAT's decision, the Principal Commissioner of Income Tax-2, Kolkata, has now filed this appeal in the High Court.

Company's Response

DIC India has stated that it will prepare and file a suitable reply once the High Court admits the appeal and requests a submission. The company's stance suggests it is ready to defend its position in this ongoing tax matter.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, DIC India has formally notified the stock exchanges about this development. The disclosure was made in accordance with SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Potential Impact

While the financial implication of INR 2.96 crores has been disclosed, the actual impact on DIC India will depend on the High Court's decision. Investors and stakeholders will likely be watching this case closely, as its outcome could affect the company's financial position.

DIC India Limited, a well-established player in the Indian market, continues to navigate through regulatory and tax challenges. The company's proactive approach in disclosing this information demonstrates its commitment to transparency with its shareholders and the market at large.