Indian metals & ferro alloys Limited has successfully completed postal ballot proceedings for the appointment of Ms Kiran Dhingra as Non-Executive Independent Director, achieving overwhelming shareholder approval with 99.99% votes in favour. The company announced the voting results through regulatory filings, demonstrating strong corporate governance practices and shareholder confidence.

Voting Results and Participation

The postal ballot process concluded on March 12, 2026, with comprehensive participation across all shareholder categories. The voting was conducted entirely through NSDL's remote e-voting platform, ensuring transparent and efficient shareholder participation.

Director Appointment Details

Ms Kiran Dhingra, holding Director Identification Number 00425602, was appointed as Non-Executive Independent Director for a five-year term effective February 4, 2026. The appointment addresses regulatory compliance requirements while strengthening the company's board composition.

Regulatory Framework and Compliance

The postal ballot process adhered to comprehensive regulatory requirements under the Companies Act 2013, SEBI Listing Regulations, and multiple MCA circulars. CA Sourjya Prakash Mohapatra from R K P Associates served as the scrutinizer, ensuring transparent vote counting and validation.

Age-Related Regulatory Compliance

The appointment specifically addresses SEBI Regulation 17(1A) requirements regarding director age limits. Ms Dhingra will continue serving as Independent Director for the full five-year term despite crossing 75 years of age on January 12, 2028, in compliance with applicable regulatory provisions.

Company Secretary Smruti Ranjan Ray (Membership No. F4001) coordinated the regulatory compliance aspects, ensuring adherence to all statutory requirements including the Companies Act 2013, SEBI Listing Regulations, and Secretarial Standards on General Meetings.

Tata Steel Limited has successfully completed the sale of its Ferro Alloy Plant at Jajpur, Odisha to Indian Metals & Ferro Alloys Limited for a base consideration of ₹610 crore. The transaction was officially completed on February 27, 2026, following the Asset Transfer Agreement executed on November 4, 2025.

Transaction Details

The divestment involves the complete transfer of Tata Steel's Ferro Alloy Plant assets located at Jajpur, Odisha to IMFA. The company disclosed the completion through an official communication to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The transaction represents Tata Steel's continued focus on optimizing its asset portfolio while enabling IMFA to expand its ferro alloy operations in Odisha.

Regulatory Compliance and Approvals

Tata Steel confirmed that all necessary regulatory approvals were obtained prior to the transaction completion. The company made the disclosure in compliance with securities regulations, ensuring transparency for stakeholders and market participants. The official communication was signed by Parvatheesam Kanchinadham, Company Secretary and Chief Legal Officer.

Strategic Implications

For IMFA, the acquisition aligns with its strategic initiative to drive growth in its ferro alloy business through capacity expansion. The plant's location in Jajpur, Odisha provides operational synergies and proximity to the company's existing operations in the region.

The completion of this divestment within the anticipated timeframe demonstrates efficient execution by both parties. This transaction represents a pure asset sale structure, with Tata Steel focusing on portfolio optimization while IMFA strengthens its position in the domestic ferro alloy market.