Allcargo Logistics Limited has informed the Exchange regarding Notice of Postal Ballot
ALLCARGO · price
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Allcargo Logistics has issued a postal ballot notice seeking shareholder approval for the re-appointment of founder Mr Shashi Kiran Shetty as Chairman and Managing Director for a 3-year term starting April 1, 2025. His base salary is set at Rs 10 crore per annum, with the board empowered to raise it up to Rs 15 crore, plus perquisites (housing, medical, club memberships, two chauffeur-driven cars) and a profit-linked commission. He drew Rs 12.10 crore in total remuneration in FY25. As promoter, he holds approximately 56.26 crore shares in the company. Voting opens May 22, 2025 and closes June 20, 2025; results will be announced by June 24, 2025.
This is a routine re-appointment of the founder-promoter, providing leadership continuity at the top. The remuneration package is substantial but has been the going rate for the incumbent. Since Mr Shetty controls a large stake, the resolution is expected to pass easily. Investors should note that no new governance concerns or independent director changes are involved.