GP Petroleums Limited has informed the Exchange regarding Intimation of Dispatch of Postal Ballot Notice and Explanatory Statement only through electronic means.
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GP Petroleums has sent a Postal Ballot Notice to shareholders via email only, seeking approval for the appointment of Mr. Ayush Goel (DIN: 02889080) as Chairman & Managing Director for 5 years effective January 06, 2026. Mr. Goel, aged 35, has been on the board since May 2016 and currently serves as Non-Executive Chairman; he is being elevated to an executive role. He belongs to the Promoter Group and is the son of Non-Executive Director Mrs. Deepa Goel. His proposed salary is Rs. 1 crore per annum, plus a company car with chauffeur and reimbursements, with provisions for minimum remuneration in case of inadequate profits. Remote e-voting runs from January 14, 2026 (9:00 a.m.) to February 12, 2026 (5:00 p.m.), with results to be declared by February 14, 2026.
This is a procedural postal ballot seeking shareholder approval to formalize the elevation of a promoter-family member to the top executive post. Approval will consolidate the Promoter Group's executive control of the company and result in a fixed annual payout of around Rs. 1 crore to the appointee.