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Rubfila International Ltd. — Proxy Solicitation & Information Statement 2026
Feb 24, 2026
63777_rns_2026-02-24_dde6008c-3cc8-41c1-af1b-b97547dd4c5f.pdf
Proxy Solicitation & Information Statement
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RIL/SECTL/2025-26/ 24/02/2026
The Stock Exchange Mumbai Corporate Relationship Dept. , Phirozee Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai -400 001
Scrip Code: 500367
National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai -400 051
Symbol: RUBFILA
Dear Sir,
Sub :- Submission of Newspaper Publication with respect to Notice of Postal Ballot seeking approval by special resolution - Reg.
Pursuant to Regulation 30 of the SEBI (Usting Obligation and Disclosure Requirements) Regulation, 2015 please find enclosed herewith the following:-
Copy of Notice of Postal Ballot, published by way of advertisement on 24`h February 2026, in Hindu Business Line (all editions) in English and Kerala Kaumudi (Palakkad Edition) in Malayalam.
Kindly take the documents on record.
Thanking You,
Yours Truly,
:o:#NATIONALLTD Asst Gen. Manager (Finance & Legal)
Encl : a/a
CM A CH-CHE
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. 7
In a major blow to exporters, the government has restricted benefits under the popular Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to 50 per cent of the notified rates and value caps. Trade experts have expressed concern at the reduction in RoDTEP rates, especially as they come at a time when Indian exporters are facing heightened global uncertainty and tari fluctuations, especially from the US.
Exporters have called for a review of the decision, arguing that the drop in the remission of input duties under the scheme would increase costs and aect competitiveness at a time when global demand was slowing down.
Under RoDTEP, which follows the global principle that taxes and duties should not be exported, exporters are given refunds of embedded Central, State and local taxes that are not otherwise rebated. "RoDTEP benefits
shall be restricted to 50 per cent of the notified rates and value caps, with immediate eect. This is issued with the approval of the Minister of Commerce & Industry," a notification from the Directorate-General of Foreign Trade said.
ALLOCATION DROP
This follows a sharp reduction in the budgetary allocation for RoDTEP for FY27 to ₹10,000 crore, from the previous fiscal's allocation of ₹18,232.5 crore. However, there were expectations that funding could be topped up in the revised Budget estimate after the rate rationalisation exercise for the scheme
concluded.
"The reduction in RoDTEP rates and the value caps by 50 per cent come at a highly challenging juncture,
when Indian exporters are
already contending with slowing global demand, heightened uncertainty, and rising protectionist trends across key markets. We sincerely urge the government to review and reconsider this decision with immediate effect," said Ajay Sahai, Director-General, FIEO. The move will raise the
cost of exporting from India as it reduces refunds of domestic taxes that exporters cannot otherwise recover, pointed out Ajay Srivastava from the Global Trade and Research Initiative. "In price-sensitive sectors, even
a 1–2 per cent increase in costs can decide whether orders are won or lost. The cut comes when ... compliance costs remain high, and competitors such as Vietnam and Bangladesh still enjoy lower costs and preferential market access," he said. India's goods exports in
January 2026 were almost flat, growing at a marginal 0.61 per cent (year-on-year) to \$36.56 billion, while the trade deficit widened to a three-month high of \$34.68 billion due to higher imports.
Amiti Sen New Delhi
Govt slashes export benefits by half under RoDTEP scheme
Chennai-based Star Health Insurance has seen a strong surge in demand post the removal of Goods and Service Tax (GST) for health insurance in September last year.
The standalone health insurance provider has seen a 50 per cent growth in new customer demand since October of last year, according to Anand Roy, MD & CEO, Star Health Insurance Company Ltd.
Beyond the growth in new customers, the benefits have also impacted existing customers with renewal retention having improved from 86 per cent to 88 per cent in the same period. Roy added that customers are utilising the benefits for higher coverage instead of reducing premiums and that the average new policy sum insured rose 25 per cent from ₹9 lakh

to ₹11 lakh. "By bringing the GST to zero, the government is now equating health insurance to essential goods," he said. In terms of business growth, Roy said Star Health Insurance's revenue for this fiscal (FY26) stood at about ₹17,800 crore as of January of 2026 and that the company is confident of reaching its ₹20,000 crore target for FY26. Looking ahead, it ex-
The company's focus is on increasing insurance penetration and securing new-toinsurance customers, especially in Tier 2 and Tier 3 geographies. Over 90 per cent of its customers are first-time buyers with customer switching not part of the
strategy, Roy said. PRICING POLICIES
pects a topline of ₹30,000 crore by FY28. States.
as part of its CSR initiative.
ies in 32 centres across nine
Our Bureau
Chennai
Anand Roy, MD and CEO, Star Health Insurance Company BIJOY GHOSH
Star Health new policy demand up 50 per cent post GST cut
posit refund system (DRS) from April 2 to post-October, warning that the current deadline could disrupt peakseason supplies, dent excise revenues, and cost manufacturers hundreds of crores
due to unresolved operational and commercial gaps.
The Brewers Association
of India (BAI), the International Spirits and Wines Association of India, and the Confederation of Indian Alcoholic Beverage Companies, held a meeting on February 18 with the Chairman of the Goa DRS Administration Committee, Anthony De Sa, senior excise ocials and the appointed System Operator
for implementing DRS in Goa.
The associations also re-
quested the State government to constitute a structured task force comprising industry representatives to address critical operational and commercial gaps in the framework. The Goa government intends to introduce a DRS, under which a consumer will pay a deposit on the purchase of a bottle or can, refundable upon return
Indian alcoholic beverage industry bodies have urged the Goa government to defer the rollout of its proposed de-Our Bureau Bengaluru
As for the pricing of policies, he said that around 65 per cent of the company's products saw price hikes last year owing to healthcare inflation. Roy was speaking at the launch of Arogya Seva Kendras (ASK), free-of-cost primary healthcare centres The ASK clinics, being implemented in partnership with Piramal Swasthya, will help in the screening noncommunicable diseases and providing medicines for an expected 10 lakh beneficiardeal in January 2026. In July 2025, Airtel partnered with Perplexity to oer a 12-month Perplexity Pro subscription free of cost to all its 360 million customers. Normally, such a subscription is valued at ₹17,000 per year, allowing access to advanced AI models such as GPT 4.1 and Claude, a choice to select specific AI models, deep research tools, image generation, file upload and analysis features, and access to Perplexity Labs. Sources estimated that nearly threefourth of the Airtel subscribers responded to the offer, especially homemakers,
of the used packaging at designated recycling points. FEASIBLE TIMELINE In the meeting, the industry bodies stated that while the environmental intent behind the move is appreciated, the current framework contains gaps, and the proposed implementation timeline is not operationally feasible. If enforced as scheduled, the industry may face supply chain disruptions during peak season, potentially res-
ulting in an estimated revenue loss of over ₹100 crore
to the Goa Excise Department from beer and IMFL sales.
ISSUES HIGHLIGHTED
In earlier submissions, the associations had highlighted that unique serial identifier specifications and application standards are yet to be issued, preventing manufacturers from commencing essential pre-building of inventory that typically begins in February.
The industry also noted that commercial aspects, such as bottle recovery pricing, payment cycles and turnaround timelines from the system operator remain undefined, creating supply chain unpredictability.
While the industry welcomed the DRS Administration Committee's decision to form a joint task force with industry participation, it emphasised that meaning-
ful consultation requires adequate time.
Goa's DRS rollout faces industry pushback over April deadline
start-ups and the creative economy. Yet, both companies have now concluded the partnership with Airtel now partnering with Adobe basis
Despite massive response to Perplexity free access oer, the AI firm and Bharti Airtel concluded their partnership Mumbai
consumer response. Sources said that the deal was originally meant for a 6 month period although users can avail access to Perplexity for the full year. However, the payment procedure after the 12-month period now depends entirely on Perplexity and consumer preference.
This was the first Gen-AI partnership in India between an AI firm and a telecom company. India is the biggest consumer base for Perplexity.
The company did not respond to businessline queries.
The conclusion of the deal also comes paired with the news that Aravind Srinivas, CEO of Perplexity AI, did not come to the AI Summit in Delhi that was otherwise attended by many prominent
figures in the AI and tech ecosystem.
Bharti Airtel, Perplexity terminate partnership despite strong demand
Vallari Sanzgiri
Balrampur Chini Mills expects its PLA vertical, which will commission India's first industrial-scale bio-based polylactic acid manufacturing unit in Uttar Pradesh in October this year, to have an annual revenue potential of around ₹2,000 crore at full capacity.
The manufacturing facility at Uttar Pradesh's
Kumbhi, with an annual production capacity of 80,000 tonnes per annum, is expected to reach full capacity in
sioning.
EBITDA," Balrampur Chini Mills Executive Director Avantika Saraogi told business-
line.
The Kolkata-
six months after commis-"We envisage a peak revenue potential of ₹2,000 crore, and we have given guidance at that revenue potential of around 35 per cent panies in India, is setting up the PLA (polylactic acid) plant with a gross capital expenditure of around ₹2,850 crore. The foundation stone laying ceremony of the facility at Kumbhi took place in February last year.
headquartered company, one of the largest integrated sugar manufacturing com-
The PLA vertical, Balrampur Bioyug, has secured its first government order from the Lucknow Cantonment Board, marking a significant milestone for the country's emerging bio-based materials ecosystem.
Amid rising concerns around single-use plastics and micro plastic contamination in the environment, food chain and even human bodies, this procurement signals a clear shift from fossil-based materials to biobased alternatives within institutional systems, Balrampur Chini Mills said in a stock exchange filing on Monday.
Mithun Dasgupta Kolkata
Balrampur Chini expects PLA unit to have annual revenue potential of ₹2,000 crore at full capacity
The government aims to award assets for monetisation with value more than ₹16.72 lakh crore through National Monetisation Pipeline 2.0 (NMP 2.0). The programme was launched by Finance Minister Nirmala Sitharaman on Monday.
"The NMP 2.0 estimates aggregate monetisation potential of ₹16.72 lakh crore, including private sector investment of ₹5.8 lakh crore under asset monetisation pipeline of Central ministries and public sector entities, over the five-year period from FY26 to FY30," a Finance Ministry statement said.
The new version of the NMP is over 2.6 times higher than that under NMP 1.0.
In her address at the launch, the Finance Minister complimented all the ministries/departments of the government and NITI Aayog for meeting nearly 90 per cent of the target of ₹6 lakh crore set for four years in the implementation of NMP 1.0.
PUBLIC ASSETS
Highlighting the significance of asset monetisation, she said NMP enables recycling of productive public assets, thereby unlocking resources for reinvestment in new projects and capital expenditure.
She noted that this approach facilitates ecient mobilisation of funds for capex in public assets while minimising budgetary outgo of the government.
NMP 2.0 is a culmination of insights, feedback and experiences consolidated through multi-stakeholder consultations undertaken by NITI Aayog, Ministry of Finance and line ministries. Several rounds of discussion have been held by NITI Aayog with the stakeholders. According to the state-
| Sector | Total monetisation value (FY 2026-30/ ₹ crore) |
$%$ of total |
|---|---|---|
| Highways, MMLPs, ropeways | 4,42,000 | 26 |
| Power | 2,76,500 | 17 |
| Ports | 2,63,700 | 16 |
| Railways | 2,62,300 | 16 |
| Coal | 2,16,000 | 13 |
| Mines | 1,00,000 | 6 |
| Urban infrastructure | 52,000 | 3 |
| Civil aviation | 27,500 | $\overline{2}$ |
| Petroleum & natural gas | 16,300 | 1 |
| Warehousing & storage | 10,000 | 1 |
| Telecom | 4,800 | 0.3 |
| Tourism | 1,200 | 0.1 |
| Total | 16.72.300 | 100 |
gramme.
ment, an empowered Core Group of Secretaries on Asset Monetisation under the chairmanship of Cabinet Secretary will continue to monitor the progress of the asset monetisation pro-"The government is committed to making the asset monetisation programme, a value accretive proposition both for public sector and private investors/developers, through improved infrastructure quality and operations and maintenance," the statement said.
The proceeds from asset monetisation projects are allocated to four dierent heads depending on the implementing agency of the project, as well as the pro-
ject's mode of monetisation. Any type of government revenue from a monetisation project that is implemented by a Central ministry (for example, revenue share, premium, lease rental, royalty) shall flow to the Consolidated Fund of India.
ROYALTY PAYMENTS
Proceeds from monetisation activities undertaken by PSUs shall accrue to the concerned PSU (similar norm shall be followed for major port authorities).
Certain projects under NMP 2.0 are expected to generate revenues to the State governments, especially those belonging to the mines and coal sectors (royalty payments). These proceeds shall accrue to the State Consolidated Fund.
NMP 2.0 unveiled to monetise assets worth ₹16.72 lakh crore
UNLOCKING RESOURCES. Programme launched by Finance Minister is over 2.6 times higher than NMP 1.0
Our Bureau
New Delhi
The Indian Overseas Bank Ocers' Association (IO-BOA), comprising around 13,000 member ocers of the public sector bank, has called for an all-India strike on March 2 alleging poor working culture, lack of work-life balance, and other issues faced by the employees.
Further, without response from the management, there is also a conciliation meeting planned between the IOB management and IOBOA members in the presence of the Central Labour Commissioner on Wednesday (February 25).
"We are not demanding any salary revision but asking for our dignity and cor-

dial work atmosphere. We just want restoration of humane working hours, transparent governance, withdrawal of certain HR clauses such as probationary period for promotions and unilateral policy decisions," Sreenivas Naick, General Secretary, IOBOA, told businessline.
IOB declined to respond at the moment.
According to Naick, IOB ocers across the country allegedly face unrealistic deadlines and targets, with management not giving im-
portance to work-life balance. "Ocers are asked to sit beyond 9.30 in the night and also called on holidays, citing unrealistic deadlines," he said. Detailing their demands, he said there should
not be "forced late sittings" or calling ocers on holidays, except for genuine exigencies. Further, there should be safety protocols, especially for skeletal branches and women officers, he added.
There should also be a 'Right to Disconnect' — to regulate after-hours messaging on WhatsApp and other channels, he said, adding there should also be a guarantee of a fair and transparent HR governance. The association added
that repeated representa-
tions highlighting concerns over morale, mental well-being and institutional functioning have not received an adequate response.
The public sector lender recorded a 56 per cent yearon-year growth in consolidated net profit at ₹1,365 crore for quarter ended December 2025 (Q3FY26). Further, the bank's total business increased ₹1.01 lakh crore to reach ₹6.44 lakh crore as on December 2025, registering y-o-y growth of 18.7 per cent.
AGITATION SCHEDULE
As part of the planned agitation schedule, demonstrations were held at regional centres on February 23, followed by protests on February 26, culminating in the March 2 strike.

| SI No' | ' Description of the Resolution | Type of Resolution |
|---|---|---|
| Approval for continuation of Directorship of Mr. Shaukat Hasanali Merchant (DIN: 00075865) as Independent Director upon attaining the age of 75 years. |
Special Resolution |
Sindhu Hariharan Chennai
IOB officers call for strike on March 2, demand work-life balance, right to disconnect

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