National Plastic Industries Limited has issued a postal ballot notice dated February 06, 2026, seeking shareholder approval for the re-appointment of an Independent Director. The company is proposing the re-appointment of Mr. Vipul Amul Desai for a second term as Independent Director, demonstrating its commitment to maintaining experienced leadership on its board.

Director Re-appointment Details

The postal ballot seeks approval for the re-appointment of Mr. Vipul Amul Desai (DIN: 02074877) as Independent Director for a second term of 5 years. The proposed appointment will commence from February 12, 2026, and continue until February 11, 2031.

Mr. Desai was initially appointed as Independent Director at the 34th Annual General Meeting held on July 30, 2021, for his first term from February 12, 2021. The Nomination and Remuneration Committee and Board of Directors have recommended his re-appointment based on his performance evaluation and significant contributions during his tenure.

Director Profile and Experience

Mr. Vipul Desai brings substantial expertise to the board with his comprehensive professional background. He holds qualifications including B.Com (Hons), LLB, FCS, ACMA, and Hon ACIA (Florida, USA), providing a strong foundation for his directorial responsibilities.

Mr. Desai serves as Chairman of the Nomination and Remuneration Committee and is a member of the Audit Committee and Stakeholder Relationship Committee within the company. He also holds directorial positions and committee memberships in other listed and unlisted companies, including Triochem Products Limited and Sonal Adhesives Limited.

Voting Schedule and Process

The company has established a comprehensive timeline for the postal ballot process, with all voting to be conducted through remote e-voting. Members whose names appear in the register as of the cut-off date will be eligible to participate in the voting process.

Regulatory Compliance and Special Considerations

The postal ballot notice has been issued in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company has appointed CS Ragini Chokshi of M/s Ragini Chokshi & Co., Practicing Company Secretaries, as the Scrutinizer for conducting the postal ballot process.

A notable aspect of this re-appointment is that Mr. Desai will attain the age of 75 years on December 27, 2030, during his proposed term. Pursuant to Regulation 17(1A) of the Listing Regulations, the company is specifically seeking member consent for his continuation as Independent Director beyond the age of 75 years until the expiry of his term.

Remuneration and Independence

Mr. Desai received Rs. 79,000 as sitting fees during FY 2024-2025 and will continue to be eligible for sitting fees as approved by the Board. He has provided declarations confirming his independence as per Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the Listing Regulations.

The Board considers Mr. Desai's continued association beneficial to the company, citing his rich experience, expertise, and valuable contributions to board deliberations. The resolution requires approval by special resolution, and the company has made arrangements for electronic voting through CDSL's platform to facilitate member participation.