The Board of Directors of Refex Industries Limited approved significant corporate actions on March 26, 2026. Key approvals include increasing the limit for investments, loans, and guarantees to ₹3,300 Crore, exceeding Section 186 limits. Furthermore, a Material Related Party Transaction worth up to ₹2,010 Crore with subsidiary Venwind Refex Power Limited was authorized. Shareholders will vote on these items via postal ballot, with e-voting closing on April 30, 2026.
Key Resolutions from Board Meeting
Refex Industries Limited announced the outcome of its Board of Directors meeting held on Thursday, March 26, 2026. The Board inter-alia approved critical actions affecting the Company’s financial structure and governance.
Expansion of Financial Limits
The Board sanctioned the making of investments, granting of loans, and providing security for an amount up to ₹3,300 Crore. This figure represents a significant upward revision from the existing limit of ₹2,500 Crore, exceeding the thresholds specified under Section 186 of the Companies Act, 2013.
Material Related Party Transaction
Approval was granted for a Material Related Party Transaction not exceeding ₹2,010 Crore with Venwind Refex Power Limited, which is identified as a subsidiary company.
Shareholder Approval via Postal Ballot
To seek shareholder ratification for the above two business items, the Board approved the Notice of Postal Ballot dated March 26, 2026. The timeline for this electronic voting process is detailed below:
- Cut-off Date: Friday, March 27, 2026
- Start of Remote E-voting: Wednesday, April 01, 2026 (9:00 AM IST)
- End of Remote E-voting: Thursday, April 30, 2026 (5:00 PM IST)
The Company confirmed that the Notice of Postal Ballot will be sent electronically to all shareholders whose email addresses are duly registered.
Appointment of Scrutinizer
Ms. Mehak Gupta, Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the remote e-voting process is conducted in a fair and transparent manner.
Reconstitution of Risk Management Committee (RMC)
Effective from March 26, 2026, the Risk Management Committee (RMC) was reconstituted following the cessation of Mr. Sachin Navtosh Jha, Chief of Staff, as a member. The new composition of the RMC is as follows:
| Name | Designation | Role |
|---|---|---|
| Mr. Dinesh Kumar Agarwal | Whole-time Director & CFO | Chairperson |
| Ms. Susmitha Siripurapu | Non-Executive Director | Member |
| Mr. Sivaramakrishnan Vasudevan | Independent Director | Member |
| Ms. Harini Sriraman | Vice President (Legal) | Member |
| Ms. Jahanvi Khedwal | Chief of Staff (VRPL-Wind Business) | Member |
The compliance details, including the digital signature of Ankit Poddar, Company Secretary & Compliance Officer, confirm the veracity of this disclosure.
Source: BSE
