Premier Polyfilm Limited, a leading manufacturer of Vinyl Flooring, PVC Sheeting, PVC Geomembranes, and Artificial Leather Cloth, has announced the results of its postal ballot process conducted through remote e-voting. The results confirm the shareholders' approval of two key resolutions: the appointment of Mr. Manish Bajoria as a Non-Executive Independent Director and the approval of material related party transactions for the financial year 2025-26.

1. Appointment of Mr. Manish Bajoria as an Independent Director

The company sought shareholder approval for the appointment of Mr. Manish Bajoria (DIN: 00561825) as a Non-Executive Independent Director for a tenure of five years, effective from January 27, 2025.

• Total votes polled: 4,80,29,394
• Votes in favor: 4,78,99,399 (99.73%)
• Votes against: 1,29,995 (0.27%)
• Promoter votes: 100% in favor
• Public institutions’ votes: 99.05% in favor

The resolution was passed with an overwhelming majority, indicating strong shareholder confidence in Mr. Bajoria’s leadership and governance capabilities.

2. Approval of Material Related Party Transactions

The second resolution sought shareholder approval for material related party transactions with RMG Polyvinyl India Limited for the financial year 2025-2026.

• Total votes polled: 1,36,96,714
• Votes in favor: 1,35,64,414 (99.03%)
• Votes against: 1,32,300 (0.96%)
• Promoter votes: Not applicable as promoters abstained from voting
• Public institutions’ votes: 99.03% in favor

With 99.03% of votes in favor, this resolution was also approved, ensuring continued business transactions between Premier Polyfilm and RMG Polyvinyl India Ltd.

Regulatory Compliance and Voting Process

The postal ballot and e-voting process was conducted as per Sections 108 and 110 of the Companies Act, 2013, read with Regulation 44 of SEBI (LODR) Regulations, 2015. The voting window was open from February 10, 2025, to March 11, 2025, and shareholders were allowed to cast their votes electronically.

The results were scrutinized by Mr. Sumit Bajaj, a practicing Company Secretary, who confirmed that the resolutions were passed with the requisite majority.

Impact on Corporate Governance and Business Operations

The appointment of an independent director enhances corporate governance standards, ensuring unbiased decision-making in the company's strategic growth. The approval of related party transactions allows Premier Polyfilm to maintain strong business ties with RMG Polyvinyl India Ltd., a key partner.

Conclusion

Premier Polyfilm Limited has once again demonstrated strong corporate governance and shareholder engagement by successfully conducting the postal ballot process. The approval of these resolutions reinforces investor confidence and supports the company’s growth trajectory.

Investors and stakeholders can expect continued transparency and efficiency in decision-making, paving the way for sustained business expansion in FY 2025-26.

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