Postal Ballot Notice dated October 13, 2025 along with explanatory statement attached
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Spice Islands Industries Ltd (formerly Spice Islands Apparels Ltd) has issued a Postal Ballot Notice dated October 13, 2025, seeking shareholder approval via remote e-voting (CDSL platform) for two special resolutions. The first resolution seeks approval to appoint Mr. Dipesh Dalvi (DIN: 08572894), aged 36, as a Non-Executive Independent Director for a five-year term from October 11, 2025 to October 10, 2030; he holds a B.Com and PGDFM and has expertise in direct/indirect taxation, statutory and internal audits. The second resolution seeks approval to add a new sub-clause (Segment IV – Edible Oil) to the Main Objects of the Memorandum of Association, enabling the company to manufacture, process, refine, trade, import, export and distribute edible oils such as sunflower, soybean, mustard, groundnut, palm and olive oil, along with vanaspati, ghee and by-products. The cut-off date is October 10, 2025, e-voting runs from October 14, 2025 (9:00 AM) to November 12, 2025 (5:00 PM), and results will be announced on or before November 14, 2025.
The company is diversifying from its existing Food & Beverages, Hospitality and Electric Vehicle businesses into the edible oils segment, a significant business pivot. Shareholders should evaluate the new business direction and vote on the director appointment and MOA amendment during the e-voting window.