Alicon Castalloy Limited has informed the Exchange regarding Notice of Postal Ballot
ALICON · price
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Alicon Castalloy Limited has issued a postal ballot notice seeking shareholder approval for the appointment of Mr. Ishaan Rai as Non-Executive Non-Independent Director. Mr. Ishaan Rai, aged 35, was appointed as an Additional Director by the Board on April 17, 2026, effective May 12, 2026. He holds a B.Sc. in Anthropology from University College London and an LL.B. from ILS Law College, Pune, with experience in M&A transactions, SEBI regulatory matters, and the media/entertainment sector. The appointment comes as Mrs. Pamela Rai (his mother) will resign from the Board effective the same date. Mr. Ishaan Rai is the son of Mr. S. Rai, Managing Director, making this a family succession matter. He holds 12 shares in the company and will receive sitting fees for Board/Committee meetings. Voting period runs from May 22 to June 20, 2026.
This is a routine director appointment converting an additional directorship to a regular appointment. The family succession element and related party disclosure are standard requirements. No material impact expected on stock price as this is a standard governance process.