Avadh Sugar & Energy Limited has informed the Exchange regarding Notice of Postal Ballot
AVADHSUGAR · price
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Avadh Sugar & Energy has issued a postal ballot notice seeking shareholder approval to appoint Mr. Chandra Shekhar Nopany (DIN 00014587) as Managing Director designated as Co-Chairperson for a 5-year term from September 1, 2025 to August 31, 2030. He currently serves as Non-Executive Director and Co-Chairperson since July 2016 and is the son of Chairperson Ms. Nandini Nopany. The proposed remuneration includes a fixed salary of Rs. 25 lakh per month plus a commission of 5% of net profits (capped under Section 197/Schedule V of the Companies Act), along with housing, medical reimbursement, car and other perquisites. Remote e-voting through NSDL runs from August 14, 2025 to September 12, 2025, with the cut-off date being August 8, 2025; results will be declared within two working days after voting closes. Mr. Nopany holds 68,176 shares in the company and directorships in several other listed firms including Chambal Fertilisers, Sutlej Textiles and Magadh Sugar & Energy, and he drew Rs. 17.60 lakh as remuneration in FY25.
This is largely a formal elevation of an existing executive who has been on the board since 2016, so shareholder approval is expected to be procedural rather than contentious. The notable change is the shift from non-executive pay (Rs. 17.60 lakh in FY25) to a full executive compensation package, which may modestly pressure the company's salary costs going forward but is unlikely to materially move the stock.