Pursuant to Regulation 30 of SEBI LODR 2015, please find enclosed Postal Ballot notice alongwith explanatory statement.
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Steelco Gujarat Ltd has issued a Postal Ballot Notice dated April 9, 2026, seeking shareholder approval for three director-related resolutions via remote e-voting (through NSDL). The three items are: (1) Ordinary Resolution to appoint Mr. Shankar Bharadhwaj (DIN: 02340170), a Chartered Accountant with 25+ years of financial sector experience, as Nominee Director representing Vistra ITCL (India) Limited, the Debenture Trustee; (2) Special Resolution to appoint Mr. Subir Kumar Chowdhury (former MD & CEO of JCB India, 40+ years experience) as Independent Director for a 3-year term; and (3) Special Resolution to appoint Mr. Deepak Sharma (ex-Indian Navy, 35+ years in Oil & Gas/Infrastructure) as Executive Director for 2 years at a remuneration of Rs. 1,50,000 per month. The cut-off date is April 3, 2026; e-voting runs from April 13, 2026 (9:00 AM) to May 12, 2026 (5:00 PM), with results to be declared by May 14, 2026. Contextually, the company's FY25 financials show a sharp swing to a loss of Rs. 20.54 crore (versus a profit of Rs. 165.41 crore in FY24), with total income at Rs. 4.94 crore against expenses of Rs. 25.48 crore.
Shareholders should review and vote on these three director appointments by May 12, 2026. The appointment of a Debenture Trustee nominee and a high-profile independent director (ex-JCB India CEO) along with an operational executive director suggests the company is strengthening its board, possibly in the context of its debenture obligations and the significant loss reported in FY25.