Announced Tue, 30 Jun · 16:01 IST
All 7 postal ballot resolutions passed including director pay hikes and borrowing powers
Board & Shareholder Meetings View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Seven special resolutions put to shareholders via postal ballot have all passed with strong approval (about 99.61% to 99.89% in favor). Four covered pay hikes for executive directors of the Shah promoter family, and three gave the board broad powers to borrow, sell or dispose of assets, and make loans or investments. Turnout was 72.15% from 13 out of 315 shareholders.
Likely market impact
Promoter-led board has secured higher pay for executive directors and wide financial flexibility. Limited public participation may raise governance questions.