Postal Ballot Notice dated March 18, 2026 is enclosed herewith.
Awaiting price reaction for this filing.
Filtron Engineers has sent a postal ballot notice dated March 18, 2026 seeking shareholder approval through e-voting (March 19 – April 17, 2026) on 8 items. Key items include: (1) regularization of Mr. Jayesh Sheshmal Rawal as Managing Director (3-year term from Jan 19, 2026) at a remuneration of up to Rs. 1.2 crore per annum, (2) regularization of Mr. Tarak Bipinchandra Gor as a second Managing Director on the same Rs. 1.2 crore pay, and (3) regularization of Mr. Ankit Jayesh Rawal (who shares the Rawal surname with the existing MD) as Non-Executive Director. The company is also seeking shareholder nod to raise its borrowing limit under Section 180(1)(c) to Rs. 1,000 crores, approve loans/investments up to Rs. 1,000 crores under Section 186, and permit sale/mortgage of undertakings up to Rs. 1,000 crores. Additionally, the company plans to shift its registered office from Pune to Mumbai (both in Maharashtra) and expand its main objects clause to enter infrastructure, real estate, construction, IT services and investment businesses. E-voting results will be announced on or before April 20, 2026.
Shareholders are being asked to approve a major expansion in borrowing and investment headroom (Rs. 1,000 crores each) along with a sharp shift in business focus from engineering to infrastructure, real estate and financial investments, which signals a possible strategic pivot. The induction of a Rawal family member (Ankit Jayesh Rawal) to the board, alongside the regularization of the existing MD, is worth noting from a governance and succession standpoint.