Notice of Postal Ballot for approval of re-appointment of Mr. Varun Moolchandani as executive director of the company for period of 2 years with effect from 05.05.2026
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Archies Ltd is seeking shareholder approval via postal ballot for the re-appointment of Mr. Varun Moolchandani as Executive Director for a 2-year term from 05.05.2026 to 04.05.2028. His basic salary will be Rs. 2,07,700 per month (with a ceiling of Rs. 2,45,000), plus perquisites capped at 60% of basic salary including housing, medical, provident fund, and other benefits. The appointment has been recommended by the Nomination and Remuneration Committee and approved by the Board. E-voting runs from 08th May 2026 to 06th June 2026, and results will be declared by 08th June 2026. Mr. Varun Moolchandani and his relatives have an interest in this resolution.
This is a routine re-appointment of an existing executive director from the promoter family. The continuation provides leadership stability but involves minimum remuneration protection clause which could be relevant in loss-making years. Shareholders should review the remuneration structure and whether it aligns with company performance.