Electrotherm (India) Ltd

Dematerialisation processing status

• Dematerialisation requests were confirmed to the depositories (accepted/rejected) during the period.
• Securities dematerialised were listed on the stock exchanges.
• Physical certificates for dematerialisation were mutilated and cancelled; depository name updated as registered owner within prescribed timelines.

AGM Details

• 40th AGM held on 28 September 2026 at 10:00 AM via VC/OAVM.
• Consolidated Scrutinizer's Report accompanying the voting results.

AGM details

• AGM held on 28 September 2026 at 10:00 a.m. via VC/OAVM.
• Chairman: Dinesh Mukati, Non-Executive Chairman and Independent Director.
• Remote e-voting window: 25–27 September 2026, 9:00 a.m. to 5:00 p.m.
• Proxy attendance not allowed per MCA/SEBI rules.
• Quorum satisfied via VC/OAVM.

Ordinary business resolutions

• Adoption of audited standalone and consolidated financial statements for year ended 31 March 2026.
• Re-appointment of Suraj Bhandari as Director retiring by rotation.
• Appointment of Rajesh Bhalchandra Patel as Non-Executive Non-Independent Director.
• Appointment of Harish Mukati as Director liable to retire by rotation.
• Appointment of Davesh Khandelwal as Director liable to retire by rotation.
• Ratification of remuneration of Cost Auditor for financial year ending 31 March 2027.
• Approval of material related party transactions with Arvindbhai Steel Private Limited.
• Approval of material related party transactions with Powertrans Electric Co. Private Limited.
• Approval of material related party transactions with Emnis Systems Private Limited.
• Approval of material related party transactions with Powertrans Electro Control.

Special business resolutions

• Appointment of Raj Kumar Bansal as Independent Director.
• Appointment of Harish Mukati as Whole Time Director and CEO.
• Appointment of Davesh Khandelwal as Whole Time Director.

Auditors

• Statutory auditors attended; no changes in appointment.

Voting status

• Voting results to be submitted separately.

Electrotherm (India) Limited: Trading window closes from 01st October, 2026 till 48 hours after the submission of the Unaudited Standalone and Consolidated Financial Results for the Quarter and Half Year ended on 30th September, 2026.

Regulatory action by ED under PMLA

• Provisional attachment order issued 25 Sep 2026, attaching Rs 25.08 crore in two Electrotherm bank accounts.
• ED attached 6,98,275 equity shares of Shailesh Bhandari and 6,59,500 shares of Mukesh Bhandari.

Previous freezes and related actions

• Earlier freezes totaled Rs 34.29 crore in company accounts and Rs 83.18 lakh in promoter account.

Legal challenge and status

• Company challenging freezing before Gujarat High Court and PMLA Appellate Tribunal; hearings ongoing.

Collateral and related disclosures

• FDR of Rs 3.20 crore provided to release the seized car.

Target and transaction

• Target: Electrotherm (India) Limited; promoter group gift transfer of 80,000 shares.

Disclosing parties

• Acquirer: Mr. Suraj Shailesh Bhandari; Seller: Mr. Bhandari Rakesh; both promoter group.

Pre-transaction holdings

• Acquirer pre-hold: 81,100 shares (0.64%).
• Seller pre-hold: 4,27,319 shares (3.35%).
• Other promoter group pre-hold: 32,97,308 shares (25.88%).
• Total pre-hold: 38,05,727 shares (29.87%).

Transaction details

• Acquired 80,000 shares (0.63%) via off-market inter-se transfer by gift.

Post-transaction holdings

• Post-hold: Acquirer 1,61,100 shares (1.26%).
• Post-hold: Seller 3,47,319 shares (2.73%).
• Post-hold: Other promoter group 32,97,308 shares (25.88%).
• Total post-hold: 38,05,727 shares (29.87%).

Capital and date

• Equity capital before/after: Rs. 12,74,28,140 (1,27,42,814 shares).
• Total diluted capital: Rs. 12,74,28,140 (1,27,42,814 shares).
• Date of transaction: 10-09-2026.
• Promoter encumbrance: 3,00,000 promoter shares encumbered.

AGM Details

• 40th AGM on 28 September 2026 at 10:00 AM via VC/OAVM.
• Remote e-voting from 25 September 2026 9:00 AM to 27 September 2026 5:00 PM.
• Cut-off date for voting: 21 September 2026.

Key Resolutions

• Ordinary: Adopt standalone and consolidated financial statements for the year.
• Ordinary: Re-appoint director by rotation.
• Special: Independent director appointed for five-year term.
• Ordinary: Non-executive, non-independent director appointed.
• Ordinary: Director liable to retirement by rotation appointed.
• Special: Whole Time Director & CEO appointed for three years.
• Ordinary: Additional director appointed, liable to retirement by rotation.
• Special: Remuneration framework for Whole Time Director/CEO approved.
• Ordinary: Ratify cost auditor remuneration for the year.
• Ordinary: Approve material RPTs with related parties under thresholds.
• Ordinary: Approve RPT with second related party under thresholds.
• Ordinary: Approve RPT with third related party under thresholds.
• Ordinary: Approve RPT with fourth related party under thresholds.

Director Changes

• Independent director appointed for five-year term.
• Non-executive, non-independent director appointed.
• Additional director appointed; one for Whole Time Director.
• Remuneration framework and process for WTD/CEO set.

Auditors & Remuneration

• Cost auditor remuneration for the year ratified.

Related Party Transactions

• Approve material related party transactions for the coming year within defined thresholds; arm's length.
• Related parties shall abstain from voting on these resolutions.

Dividend

• Dividend: No dividend proposed or declared; company has not paid since 2011.

Board appointments

• Appointed Mr. Davesh Khandelwal as Additional Director and WTD for three-year term (Aug 26, 2026–Aug 25, 2029).
• Appointed Mr. Rajesh Bhalchandra Patel as Additional Director, Non-Executive Non-Independent, liable to retire by rotation.
• Appointments subject to shareholder approvals.