Modison Announces Board Changes: New Independent Director Appointed

Modison has recently undergone significant changes in its board composition, marking a transition in its corporate governance structure.

Board Transition Details

Aspect	Details
Outgoing Director	Ashok Shantilal Jatia
Completion Date	November 1, 2025
Previous Roles	Chairman of Audit Committee, Nomination & Remuneration Committee, Stakeholders' Relationship Committee; Member of Corporate Social Responsibility Committee and Finance Committee
Incoming Director	Nandkishore Bafna
Appointment Term	5 years (November 1, 2025 - October 31, 2030)
Shareholder Approval Date	October 25, 2025
Voting Results Submission	October 27, 2025

Key Highlights

Completion of Tenure: Ashok Shantilal Jatia concluded his second term as a Non-Executive Independent Director on November 1, 2025.
New Appointment: Nandkishore Bafna has been appointed as a Non-Executive Independent Director for a five-year term.
Shareholder Approval: The appointment of Nandkishore Bafna was approved by shareholders through remote e-voting.
Regulatory Compliance: The company has made this disclosure in compliance with SEBI regulations, specifically Regulation 30(6) read with Para A (7) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This board transition reflects Modison's adherence to corporate governance norms and its commitment to maintaining a robust leadership structure. The appointment of a new independent director may bring fresh perspectives to the company's strategic direction and oversight functions.

Investors and stakeholders can access further information about these changes on the company's official website at www.modisonltd.com .

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.53%	-4.34%	-10.62%	+18.51%	-10.81%	+133.71%

Modison Limited , a prominent player in the Indian manufacturing sector, has successfully concluded its recent postal ballot, resulting in the appointment of Mr. Nandkishore Bafna as a Non-Executive Independent Director. The voting process, which took place from September 26 to October 25, 2025, saw strong participation from shareholders and demonstrated robust corporate governance practices.

Voting Results Highlight Strong Shareholder Support

The postal ballot results revealed overwhelming support for Mr. Bafna's appointment, with 99.99% of the votes cast in favor of the resolution. Here's a breakdown of the voting outcomes:

Category	Votes Polled	Votes in Favor	Votes Against	% in Favor
Promoter and Promoter Group	16,834,511	16,834,511	0	100.00
Public Non-Institutions	791,641	790,711	930	99.88
Total	17,626,152	17,625,222	930	99.99

Key Highlights of the Postal Ballot

Total Shareholders: 21,776 (as of the record date, September 19, 2025)
Total Shares: 32,450,000
Votes Polled: 17,626,152 (54.32% of total shares)
Voting Method: Remote e-voting
Voting Period: September 26 to October 25, 2025

Significance of the Appointment

The appointment of Mr. Nandkishore Bafna as a Non-Executive Independent Director is a significant move for Modison Limited. Independent directors play a crucial role in ensuring good corporate governance, providing unbiased perspectives, and safeguarding the interests of all stakeholders, particularly minority shareholders.

Regulatory Compliance

The postal ballot process was conducted in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013. The scrutinizer, Ragini Chokshi, confirmed that the resolution passed with the requisite majority.

Transparency and Accessibility

In line with best practices in corporate governance, Modison Limited has made the detailed voting results and the scrutinizer's report available on the company's website ( www.modisonltd.com ), ensuring transparency and easy access for all stakeholders.

The strong shareholder support for Mr. Bafna's appointment reflects positively on Modison Limited's governance practices and shareholder engagement.