Walchandnagar Industries Limited has successfully completed its postal ballot process, with shareholders providing overwhelming approval for three critical special resolutions. The e-voting process, scrutinized by V.N. Deodhar & Co., Company Secretaries, concluded on March 8, 2026, with strong participation from the shareholder base.

Postal Ballot Process and Participation

The e-voting period commenced at 9:00 a.m. on February 7, 2026, and concluded at 5:00 p.m. on March 8, 2026. A total of 228 members participated in the voting process, collectively holding 22,687,326 shares. The voting rights were determined based on the paid-up value of shares registered in members' names as of the cut-off date of January 30, 2026.

Resolution Results and Shareholder Approval

All three special resolutions received exceptional support from shareholders, with approval rates exceeding 99% across all proposals. The resolutions covered strategic corporate decisions including office relocation, asset disposal, and leadership continuity.

Special Resolution No. 1: Registered Office Relocation

Shareholders approved the relocation of the company's registered office from Flat No. 3, Walchand Terraces, Tardeo Road, Mumbai – 400034 to Siddharth Towers, S. No. 12/3-B, Office 908 to 910, Kothrud, Pune - 411038, including necessary amendments to the Memorandum of Association.

Special Resolution No. 2: Dharwad Land Sale

The proposal to sell Dharwad land bearing survey numbers 71B, 72B, and 83 (Part) received strong shareholder support, demonstrating confidence in the company's asset optimization strategy.

Special Resolution No. 3: Managing Director Reappointment

Shareholders overwhelmingly approved the reappointment of Mr. Chirag C. Doshi as Managing Director and Chief Executive Officer for a three-year term effective April 1, 2026, along with his remuneration package.

Corporate Governance and Compliance

The postal ballot process was conducted in accordance with Sections 108, 110, and other applicable provisions of the Companies Act, 2013, along with the Companies (Management and Administration) Rules, 2014. The process also complied with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Secretarial Standard-2 issued by the Institute of Company Secretaries of India. The scrutinizer's report was prepared in the presence of two independent witnesses, CA. Hrushikesh V. Deodhar and Mr. Santosh M. Kelkar, ensuring transparency and fairness in the voting process.

Walchandnagar Industries Limited has successfully resolved its arbitration dispute with Aicitta Intelligent Technology Private Limited through an amicable settlement. The company disclosed the resolution under Regulation 30 of SEBI Listing Regulations on March 5, 2026, marking the end of legal proceedings that began with a petition filed under Section 9 of the Arbitration and Conciliation Act, 1996.

Settlement Details and Financial Recovery

The dispute resolution was formalized through Consent Terms signed on March 4, 2026, between the parties involved. Under the settlement agreement, Walchandnagar Industries will recover a substantial amount from the respondents.

The recovered sum represents refunds of Inter-Corporate Deposits (ICD) that Walchandnagar Industries had arranged for Aicitta, along with legal and other expenses incurred by the company for this project.

Dispute Background and Parties

The original dispute involved Aicitta Intelligent Technology Private Limited and its promoters, Arjun Das and Vikram Sarin, as respondents. The company had initially filed a petition seeking appropriate interim reliefs under the Arbitration and Conciliation Act, 1996, which was disclosed to stock exchanges in May 2025.

Project Withdrawal and Future Impact

As part of the mutual understanding reached between the parties, Walchandnagar Industries has decided to withdraw from the disputed project entirely. The company stated that it will not be participating in the said project going forward, effectively ending its involvement in the venture that led to the original dispute.

The settlement terms indicate no additional financial impact on the company beyond the recovery of the specified amount. This resolution allows Walchandnagar Industries to close this chapter and focus on its core business operations without the burden of ongoing litigation.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, along with relevant SEBI Master Circulars. The company has fulfilled its obligation to inform both NSE and BSE about the settlement, ensuring transparency for its stakeholders and investors.