Alembic Limited has informed the Exchange regarding Notice of Postal Ballot
ALEMBICLTD · price
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Alembic Limited has issued a Postal Ballot Notice seeking shareholder approval (via e-voting from Aug 21 to Sep 19, 2025) for the appointment of Mr. Udit Amin (DIN: 00244235) as Managing Director for 5 years effective October 1, 2025, with a maximum CTC of Rs. 10 crore per annum. Mr. Udit Amin, currently a Non-Executive Non-Independent Director, is the son of Chairman Mr. Chirayu Amin and current MD & CEO Mrs. Malika Amin. The appointment requires Central Government approval as Mr. Udit Amin is a Non-Resident Indian. Notably, the explanatory statement reveals that current MD & CEO Mrs. Malika Amin has expressed her desire to step down from her executive position effective January 1, 2026, and will continue as a Non-Executive Non-Independent Director without managerial remuneration.
This represents a planned promoter-family succession with Mrs. Malika Amin (current MD & CEO) stepping down and her son Mr. Udit Amin being elevated to Managing Director. Shareholders should note the proposed CTC cap of Rs. 10 crore per annum and the CEO transition timeline; the result of the postal ballot will determine the company's executive leadership going forward.