Postal Ballot Notice dated May 21, 2026.
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Allcargo Terminals Ltd is seeking shareholder approval via postal ballot for the appointment of Mr Shashi Kiran Shetty (DIN: 00012754) as a Non-Executive, Non-Independent Director under the promoter category. Mr Shetty is the Founder and Chairman of Allcargo Group, India's largest homegrown logistics multinational with presence in 180 countries. He was appointed as Additional Director on May 21, 2026, and this postal ballot seeks to regularize his appointment as a full Director. He is already a significant shareholder holding 14.63 crore fully paid equity shares and 2.70 crore partly paid equity shares. He is the father of Mr Vaishnavkiran Shetty, another Non-Executive Director of the Company. The e-voting period runs from May 28, 2026 to June 26, 2026, with results to be announced by June 30, 2026.
This appointment formalizes the founder's role on the board of Allcargo Terminals Ltd. Given Mr Shetty's majority shareholding and group leadership, the appointment is expected to provide continuity in strategic direction. As a promoter category appointment with no change in control or significant new commitments, the impact on the stock is likely neutral to marginally positive.