Vardhman Polytex Limited has announced a postal ballot process to seek shareholder approval for appointing Mr. Shubham Jain as an Independent Director. The company issued the notice on January 22, 2026, under Regulation 30 of SEBI (LODR) Regulations, 2015.

Postal Ballot Details

The e-voting process will be conducted exclusively through electronic means, with no physical postal ballot forms being distributed. The voting timeline and key parameters are outlined below:

Director Appointment Details

Mr. Shubham Jain (DIN: 11397574) was initially appointed as Additional Director (Non-Executive Independent Director) on December 3, 2025. The proposed appointment seeks to regularize his position as an Independent Director for a five-year term starting from December 3, 2025.

Candidate Profile

Mr. Jain is an Advocate with extensive experience across various industries in taxation matters. He has provided the required declaration of independence and consent for appointment in accordance with the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Voting Process and Compliance

The postal ballot notice has been sent electronically to all shareholders who have registered their email addresses with the company, Registrar and Transfer Agent (RTA), or Depository Participants. Shareholders holding shares in both physical and dematerialized form as on the cut-off date are eligible to vote.

The company has appointed M/s Khanna Ashwani & Associates, Company Secretaries, as the scrutinizer for the e-voting process. Results will be declared at the registered office within two working days from the conclusion of the e-voting period and will be available on the company's website and CDSL's platform.

Regulatory Framework

The appointment is being conducted pursuant to Sections 149 and 152 of the Companies Act, 2013, along with Schedule IV and Regulations 16, 17, and 25 of SEBI (LODR) Regulations, 2015. As per regulatory requirements, shareholder approval must be obtained within three months from the date of board appointment.

Shareholders can access the postal ballot notice on the company's website at www.vpl.in , stock exchange websites, and CDSL's e-voting portal at www.evotingindia.com . The resolution requires approval by special resolution, and voting rights will be proportionate to shareholding as on the cut-off date.

Vardhman Polytex Limited has disclosed substantial loan defaults totaling ₹29.67 crores as on December 31, 2025, representing more than half of its total outstanding bank facilities. The textile company submitted this mandatory disclosure to the National Stock Exchange and BSE Limited on January 7, 2026, in compliance with SEBI Master Circular provisions.

Financial Indebtedness Overview

The company's financial disclosure reveals significant stress in its banking relationships. The detailed breakdown shows concerning default levels across its loan portfolio.

Loan Portfolio Analysis

The disclosure specifically covers revolving facilities including cash credit arrangements from banks and financial institutions. The company reported that out of ₹55.67 crores in total outstanding facilities, ₹29.67 crores are currently in default status, indicating significant repayment challenges.

Debt Securities Position

Vardhman Polytex reported a clean slate regarding unlisted debt securities, with no outstanding amounts or defaults in Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS).

Regulatory Compliance

This disclosure was made pursuant to SEBI Master Circular dated July 11, 2023, Chapter-V Section V-B Clause 5.2, which mandates listed companies to report the status of interest payments and principal repayments on loans from banks or financial institutions quarterly. The document was signed by Company Secretary Ajay K. Ratra and Chief Financial Officer Radhamohan Soni.

Summary

The disclosure highlights Vardhman Polytex Limited's current financial challenges, with over half of its bank loan facilities in default. While the company maintains no defaults on unlisted debt securities, the substantial default on banking facilities indicates potential liquidity constraints and operational challenges in the textile sector.