Indo Rama Synthetics (India) Limited , a prominent player in the synthetic textiles industry, has initiated a postal ballot process to seek shareholder approval for two significant board-level appointments. The company dispatched postal ballot notices on July 21, 2025, outlining special resolutions that could shape its leadership structure.

Appointment of New Independent Director

The first resolution proposes the appointment of Ms. Neeru Abrol as an Independent Director. Ms. Abrol, a chartered accountant with over four decades of professional experience, brings a wealth of expertise to the board. Her illustrious career includes 26 years at Steel Authority of India Limited and leadership roles at National Fertilizers Limited, where she served as Chairperson and Managing Director.

Ms. Abrol's extensive board experience spans across various sectors, including banking, venture capital, infrastructure, and manufacturing. Her current board positions include directorships at APL Apollo Tubes Limited, Apollo Pipes Limited, and SMC Global Securities Limited, among others.

Continuation of Non-Executive Independent Director

The second resolution seeks approval for the continuation of Mr. Dharmpal Agarwal as a Non-Executive Independent Director after he attains the age of 75 years on August 24, 2025. Mr. Agarwal, who has been associated with the transport industry for over 55 years, is currently the Chairman and Managing Director of Transport Corporation of India Limited.

Voting Process and Timeline

The company has opted for a remote e-voting process for this postal ballot. Key dates for shareholders to note include:

• Cut-off date for eligible voting members: July 18, 2025
• Remote e-voting period: July 22, 2025 (9:00 AM IST) to August 20, 2025 (5:00 PM IST)
• Results declaration: On or before August 22, 2025

CS Jaya Yadav has been appointed as the scrutinizer to oversee the postal ballot process.

Implications for Corporate Governance

These proposed appointments reflect Indo Rama Synthetics' commitment to maintaining a diverse and experienced board. Ms. Abrol's financial acumen and Mr. Agarwal's industry experience could potentially enhance the company's strategic decision-making capabilities.

Shareholders are encouraged to participate in the voting process to have their say in these important corporate governance matters. The results of the postal ballot will be announced at the company's corporate office in Gurugram and will be communicated to the stock exchanges where Indo Rama Synthetics' shares are listed.

As the synthetic textiles industry continues to evolve, these board-level changes could play a crucial role in shaping Indo Rama Synthetics' future direction and performance.

Indo Rama Synthetics (India) Ltd , a key player in the synthetic textiles industry, has been served with a significant tax demand notice, according to recent reports. The company is now grappling with a tax liability of ₹36.87 crore, as per the notice issued by tax authorities.

Tax Demand Details

The tax demand notice, amounting to ₹36.87 crore, has been issued to Indo Rama Synthetics. This development could potentially impact the company's financial position and warrants attention from investors and stakeholders.

Limited Information

At present, details regarding the nature of the tax demand remain scarce. The company has not yet disclosed the specific reasons behind the tax notice or the period to which it pertains. Additionally, Indo Rama Synthetics' response to this demand notice is yet to be made public.

Implications for Investors

While the full implications of this tax demand are yet to be determined, it represents a significant amount that could affect the company's financials. Investors and market analysts will likely be keeping a close watch on how Indo Rama Synthetics addresses this issue and its potential impact on the company's bottom line.

Next Steps

Stakeholders can expect further clarification from Indo Rama Synthetics in the coming days. The company may choose to contest the demand, seek a settlement, or make provisions for the payment, depending on the merits of the case and legal advice.

As more information becomes available, it will be crucial to assess how this tax demand might influence Indo Rama Synthetics' financial strategy and operational decisions going forward.