Gujarat Narmada Valley Fert & Chem has successfully completed its postal ballot process, with shareholders approving both key resolutions with overwhelming majority. The company announced the voting results on January 2, confirming the appointment of Shri Manoj Kumar Das, IAS as Director and Chairman, and ratification of cost auditor remuneration.

Postal Ballot Process Overview

The e-voting process was conducted from December 3 to January 1, with CS J. J. Gandhi serving as the scrutinizer. Out of 280,985 total shareholders on record date (November 28), significant participation was recorded across all categories.

Resolution 1: Chairman Appointment Results

The appointment of Shri Manoj Kumar Das, IAS (DIN: 06530792) as Director and Chairman received strong support across all shareholder categories with 96.75% approval.

Resolution 2: Cost Auditor Remuneration

The ratification of cost auditor remuneration for M/s. KG Goyal Associates received even stronger support, with 99.99% approval rate.

Voting Participation Analysis

The postal ballot witnessed substantial participation with 61.41% of total shares being voted. Promoter and promoter group showed complete participation with 100% voting, while public institutions demonstrated high engagement at 87.15% participation rate.

Regulatory Compliance

The postal ballot process was conducted in full compliance with the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and MCA circulars. The company dispatched notices via email on December 1 and published public advertisements in Business Standard (English) and Loksatta Jansatta (Gujarati) on December 2.

The successful completion of this postal ballot process demonstrates GNFC's commitment to transparent governance and shareholder engagement, with both resolutions now formally approved and effective from January 1.

Gujarat Narmada Valley Fert & Chem has completed its leadership transition with the formal appointment of Shri Rajkumar Beniwal as Managing Director. The company informed stock exchanges about the completion of the management change through regulatory filings under SEBI Listing Regulations.

Leadership Transition Completed

The Government of Gujarat's General Administration Department Order No. AIS/35.2025/56/G dated December 23 has been fully implemented. Shri Rajkumar Beniwal assumed charge as Managing Director on December 29, while Dr. T. Natarajan relinquished his additional charge on the same date.

New Managing Director Profile

Shri Rajkumar Beniwal brings nearly two decades of distinguished public service as an IAS officer of the 2004 batch, Gujarat Cadre. He holds a B.Tech. degree in Mechanical Engineering from IIT (BHU), Varanasi, and a Master's degree in Public Administration from Duke University, USA.

Formal Transition Process

Dr. T. Natarajan submitted his resignation letter on December 29, expressing appreciation for the Board's support during his tenure. In his resignation letter, he acknowledged the privilege of serving as Managing Director and thanked the organization for the trust and confidence extended to him. He specifically expressed sincere appreciation to the Chairman and Board Members for their continued support, guidance, and cooperation during his tenure.

The resignation was submitted pursuant to the Government of Gujarat notification whereby he was relieved from the additional charge of Managing Director. Dr. T. Natarajan will continue as Nominee Director representing the Finance Department, Government of Gujarat, on the Board of the Company.

Regulatory Compliance

The management transition has been conducted in full compliance with SEBI Listing Obligations and Disclosure Requirements Regulations. The company confirmed that Shri Rajkumar Beniwal is not debarred from holding the office of Director by any SEBI order or regulatory authority, ensuring seamless continuation of corporate governance standards.

The company will proceed to complete statutory procedures and compliances to formally induct Shri Rajkumar Beniwal on the Board. His appointment remains subject to approval by the Nomination and Remuneration Committee and the Board of Directors.