Allcargo Terminals Limited has informed the Exchange regarding Notice of Postal Ballot
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Allcargo Terminals Limited has issued a Postal Ballot Notice seeking shareholder approval for the appointment of Mr. Shashi Kiran Shetty as a Non-Executive Non-Independent Director under the promoter category. Mr. Shetty was appointed as Additional Director by the Board on May 21, 2026, and this appointment requires shareholder ratification within three months per SEBI regulations. He is the Founder and Chairman of Allcargo Group, India's largest homegrown logistics multinational with presence across 180 countries. As per the filing, Mr. Shetty holds 14,63,58,071 fully paid equity shares and 2,70,39,842 partly paid equity shares in the Company. The e-voting period runs from May 28, 2026 to June 26, 2026, and results will be announced by June 30, 2026. This is classified as an Ordinary Resolution requiring simple majority approval.
Shareholders should approve this appointment as it formalizes the board position of the company's founder and largest shareholder. The voting outcome is unlikely to face opposition given his significant shareholding and leadership role, though related party disclosure requirements apply.