Garware Hi-Tech Films Limited has informed the Exchange regarding Notice of Postal Ballot
GRWRHITECH · price
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Garware Hi-Tech Films Limited is seeking shareholder approval via postal ballot for two special resolutions. First, Ms. Sonali Rajesh Mehta is proposed for appointment as an Independent Director for a one-year term starting June 25, 2026, replacing Ms. Devanshi Nanavati whose term ends June 24, 2026. She is a law graduate and Associate Partner at Desai & Diwanji with over a decade of experience in arbitration, commercial litigation, and insolvency. Second, Ms. Monika Garware is proposed for re-appointment as Vice-Chairperson and Joint Managing Director for five years from November 1, 2026 to October 31, 2031. Her proposed salary is Rs 60,00,000 per month with a 10% annual increase from April 2027, plus perquisites capped at 40% of basic salary and commission equivalent to annual salary. The company has also sought approval for minimum remuneration in case of inadequate profits. Voting runs from May 25 to June 23, 2026, with results expected by June 25, 2026.
The appointment of Ms. Monika Garware for a 5-year term with a structured remuneration package signals continuity in leadership. Shareholders should note the minimum remuneration clause, which ensures the MD's pay regardless of company profitability, and the commission component tied to net profits.