Intimation of Postal Ballot as per attached Notice.
EFCIL · price
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Awaiting price reaction for this filing.
EFC (I) Limited has sent a Postal Ballot Notice to members (cut-off date: June 13, 2025) seeking approval through remote e-voting for five resolutions. Two are Special Resolutions to fix remuneration: Rs. 5.4 crore per annum plus a performance incentive of up to 5% of net profit for each of FY2025-26, FY2026-27 and FY2027-28 for CMD Mr. Umesh Kumar Sahay (a significant jump from the Rs. 90 lakh drawn in FY24-25), and remuneration for Non-Executive Director Mr. Abhishek Narbaria. Three are Ordinary Resolutions to approve material related party transactions for FY2025-26: up to Rs. 75 crore between the Company and subsidiary Whitehills Interior Limited, up to Rs. 500 crore between wholly owned subsidiary EFC Limited and Whitehills Interior Limited, and up to Rs. 100 crore between Whitehills Interior Limited and DC&T Global Private Limited (a same-management entity). E-voting runs from 9:00 a.m. on June 17, 2025 to 5:00 p.m. on July 16, 2025, with results to be announced on or before July 18, 2025.
Shareholders should review and vote on a substantial jump in CMD remuneration (Rs. 90 lakh to Rs. 5.4 crore annually) and large related party transaction limits (totaling up to Rs. 675 crore) involving subsidiaries and group entities. Approval of these resolutions will lock in significant payouts and inter-group transactions for FY2025-26, and rejection or large dissenting votes could affect management compensation and group restructuring plans.