The Board of Refex Industries Limited, in its meeting on March 26, 2026, approved several key financial actions. The primary decisions included increasing the permissible limit for investments, loans, and guarantees under Section 186 to ₹3,300 Crore (up from ₹2,500 Crore). Additionally, the Board sanctioned a Material Related Party Transaction up to ₹2,010 Crore with subsidiary Venwind Refex Power Limited. Shareholders will vote on these matters via a Postal Ballot concluding on April 30, 2026.
Key Resolutions from Board Meeting
The Board of Directors of Refex Industries Limited convened on Thursday, March 26, 2026, concluding its meeting between 11:18 AM and 11:45 AM (IST). The Board passed resolutions concerning significant financial activities and corporate governance changes, necessitating shareholder approval.
Enhancement of Investment Powers
The Board approved the revision of the ceiling for providing investments, loans, guarantees, and security. This revised limit is set at an amount not exceeding ₹3,300 Crore, which represents an increase from the previous limit of ₹2,500 Crore, as specified under Section 186 of the Companies Act, 2013.
Material Related Party Transaction Sanctioned
A Material Related Party Transaction was approved with Venwind Refex Power Limited, a subsidiary of the Company. This transaction is authorized up to a maximum amount of ₹2,010 Crore.
Shareholder Approval via Postal Ballot
To secure shareholder consent for the aforementioned business items (items 1 & 2), the Board approved the issuance of a Postal Ballot Notice dated March 26, 2026. The key dates for the e-voting process are established as follows:
- 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 process will utilize electronic mode only, with detailed procedures included in the official Postal Ballot Notice.
Appointment of Scrutinizer
To ensure the fairness and transparency of the remote e-voting process, the Board appointed Ms. Mehak Gupta, Practicing Company Secretary (FCS-10703), proprietor of M/s Mehak Gupta & Associates, as the Scrutinizer for the postal ballot.
Reconstitution of Risk Management Committee (RMC)
Effective from March 26, 2026, the composition of the Risk Management Committee (RMC) was reconstituted following the cessation of Mr. Sachin Navtosh Jha as a member. The new RMC composition is as follows:
| Name of Director/Member | 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 announcement was finalized and digitally signed by Ankit Poddar, Company Secretary & Compliance Officer, on March 27, 2026.
Source: BSE
