Biofil Chemicals and Pharmaceuticals Limited (CIN: L24233MP1985PLC002709), a company based in Indore, has officially announced the results of its recent Postal Ballot, confirming the approval of three critical resolutions by its shareholders. The Postal Ballot process, which involved remote e-voting, was conducted from February 20th to March 21st, 2025.

As per the Scrutinizer's Report dated March 21, 2025, the resolutions were passed with the requisite majority. The following resolutions were put forth for shareholder approval:

1. Confirmation of Appointment of Mr. Meet Shah as a Promoter Non-Executive Non-Independent Director. This resolution received 99.97% votes in favor, confirming his appointment.

2. Sale of Assets: The company proposed the sale of plant machinery, furniture, and other equipment (except leasehold land and buildings) situated at Sanwer Road Industrial Area, Indore, to Cyano Pharma Private Limited, a related party. This resolution also passed with overwhelming support of 99.97% votes in favor.

3. Transfer of Leasehold Land and Building: The company sought approval for the sale of the leasehold land and building at the same industrial area to Formo Plast Private Limited, another related party. This resolution was similarly approved with 99.97% of votes cast in favor.

The Postal Ballot Notice had been sent out to eligible members on February 17, 2025, and the voting process was facilitated through Central Depositories Services (India) Limited (CDSL), which provided the platform for electronic voting. The total number of members who participated in the voting was substantial, and the process was conducted in a transparent and efficient manner under the supervision of Mr. L.N. Joshi, a Practicing Company Secretary.

The Scrutinizer’s Report ensures that the voting was executed fairly, and no invalid votes were recorded for the resolutions. The final votes cast for each resolution, showing clear favor towards the proposed changes, confirm that all three resolutions were passed by the company’s members.

The Company has now uploaded the full Voting Results and the Scrutinizer's Report on its official website and will submit the necessary filings to both the BSE and NSE to comply with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This Postal Ballot exercise is part of Biofil Chemicals and Pharmaceuticals’ efforts to ensure that key decisions are made in a transparent manner, reflecting the shareholders’ views. The company’s management is expected to move forward with the approved resolutions, marking significant steps in its corporate governance and operational efficiency.

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