Notice of Postal Ballot
AKSHARCHEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
AksharChem India Ltd is seeking shareholder approval via postal ballot for appointing Mr. Devalkumar Indrabal Suthar as Whole Time Director (Executive) for 3 years from May 21, 2026 to May 20, 2029. He is a finance professional with 15+ years experience, associated with the company since 2010, holding Master's in Commerce from Gujarat University. His proposed consolidated salary is Rs. 126,620 per month. The company reported total income of Rs. 37,262.78 lakhs but posted a Loss Before Tax of Rs. 613.92 lakhs for FY 2025-26, citing factors like supply disruptions, commodity price increases, and overseas market destocking. The appointment requires a Special Resolution passed through remote e-voting only, with voting period from June 1 to June 30, 2026.
Appointment of an experienced finance professional to the Board provides governance stability. However, the company's recent losses and shareholder approval for remuneration exceeding statutory limits (due to inadequate profits) may signal cost concerns to investors.