Modison has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Nandkishore Bafna as a Non-Executive Independent Director. The company's Board of Directors, following a recommendation from the Nomination and Remuneration Committee, has proposed Mr. Bafna's appointment for a five-year term starting November 1, 2025.

Key Details of the Proposed Appointment

• Candidate: Mr. Nandkishore Bafna (DIN: 00019372)
• Proposed Role: Non-Executive Independent Director
• Term: Five years (November 1, 2025 to October 31, 2030)
• Age: 86 years
• Voting Period: September 26, 2025 to October 25, 2025
• Voting Method: E-voting through National Securities Depository Limited (NSDL) platform

Professional Background of Mr. Bafna

Mr. Nandkishore Bafna brings a wealth of experience to the proposed role:

• Partner at Lodha & Co. LLP
• Over 45 years of experience in assurance and corporate finance advisory services
• Rank-holding Chartered Accountant
• Graduate in Law and Commerce with top honors
• Gold Medalist in Management Accounting (Part I) examination by ICAI

Expertise and Contributions

Mr. Bafna has served on several key committees, including:

• Company Law Committee
• Auditing Practice Committee of ICAI
• Taxation Committee
• Company and Allied Law Committee of the Indian Merchants' Chamber

He has also served as an Independent, Non-Executive Director in multiple companies for over two decades, often chairing Audit Committees and Nomination & Remuneration Committees.

Special Resolution Requirement

Due to Mr. Bafna's age exceeding regulatory limits, his appointment requires approval through a special resolution, as per Regulation 17(1A) of the SEBI Listing Regulations.

Voting Process

Shareholders can cast their votes electronically through the e-voting facility provided by NSDL. The e-voting period commences at 9:00 a.m. (IST) on September 26, 2025, and concludes at 5:00 p.m. (IST) on October 25, 2025.

Scrutinizer Appointment

Ms. Ragini Chokshi of M/s. Ragini Chokshi & Co, Practicing Company Secretary, has been appointed as the Scrutinizer to ensure a fair and transparent voting process.

The Board of Directors of Modison recommends the approval of this special resolution, citing Mr. Bafna's extensive experience and deep knowledge as justification for his appointment, despite his advanced age. The results of the postal ballot are expected to be announced by October 27, 2025.

Shareholders seeking additional information or wishing to inspect relevant documents can contact the company at shareholder@modison.com .

Modison Limited , a prominent player in the Indian manufacturing sector, has announced a significant dividend payout and the date for its Annual General Meeting (AGM). The company's Board of Directors has recommended a 200% dividend, subject to shareholder approval at the upcoming AGM.

Dividend Details

The proposed dividend amounts to Rs. 2.00 per equity share with a face value of Rs. 1.00 each. This substantial payout reflects the company's strong financial performance and commitment to shareholder value.

Key Dates

Note: Dividend payment is subject to shareholder approval

Annual General Meeting

The 42nd Annual General Meeting of Modison Limited is scheduled for September 9, 2025, at 11:30 a.m. IST. The AGM will be conducted via video conference, ensuring wider participation and adherence to any prevailing health and safety guidelines.

Shareholder Eligibility

The company has set September 2, 2025, as the record date for determining shareholder eligibility for the dividend. This date will also serve as the cut-off for determining voting rights at the AGM.

Dividend Distribution Process

If approved at the AGM, the dividend will be paid to:

1. Beneficial owners of shares held in electronic form, as per the list provided by NSDL and CDSL as of the close of business on September 2, 2025.
2. Members holding shares in physical form, after accounting for valid transmission or transposition requests received by the company by the close of business on September 2, 2025.

Tax Implications

Shareholders should note that as per the Income Tax Act, 1961, as amended by the Finance Act 2020, dividends paid or distributed by a company on or after April 1, 2020, are taxable in the hands of shareholders. Modison Limited will be required to deduct tax at source (TDS) at the time of making the dividend payment.

The company has urged shareholders to update their PAN details and link their Aadhaar to their PAN to avoid higher tax deduction rates. Different TDS rates may apply depending on the residential status of the shareholder and the documents submitted to the company.

Conclusion

This dividend announcement demonstrates Modison Limited's robust financial health and its dedication to rewarding shareholders. Investors are advised to take note of the important dates and ensure their details are up to date with the company or their depository participants to facilitate smooth dividend processing and tax compliance.

Shareholders are encouraged to attend the virtual AGM and exercise their voting rights on the proposed resolutions, including the dividend declaration.