Notice of postal ballot
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
GTT Data Solutions Ltd has issued a postal ballot notice (dated June 13, 2025) seeking shareholder approval via remote e-voting (CDSL platform) from June 15, 2025 to July 14, 2025. The key special business item is the change in designation of Mr. Ganesh Natarajan from Non-Executive Chairman to Chairman & Whole-time Director for a 3-year period (April 1, 2025 to March 31, 2028), with a proposed salary of up to Rs. 1.34 crore per annum plus perquisites and performance-linked incentives. The remaining 14+ resolutions seek approval for material related party transactions under SEBI Regulation 23(4) with promoter directors/entities and subsidiaries for FY 2025-26, with per-counterparty limits ranging from Rs. 10 crores to Rs. 50 crores. Counts include transactions with individuals (Pankaj Samani up to Rs. 20 cr, Kaushal Shah up to Rs. 20 cr, Nitin Patil, Manoj Panvelkar, Basanta Swain each up to Rs. 10 cr) and entities such as Global Talent Track, Itarium Technologies, Alpharithm Technologies, CRG Solutions (each up to Rs. 50 cr as subsidiaries), and UGPatwardhan Services, Agri One India Ventures, SMCV Ventures, SMCV Management Services, Seed Infotech (up to Rs. 20 cr each). Voting results are expected on or before July 16, 2025.
The bulk of this ballot is routine governance: enabling director remuneration and pre-approving related-party transactions with promoter-linked parties and subsidiaries for the coming year, which may give investors pause to assess governance and arm's-length pricing. The appointment of an additional Whole-time Director with a Rs. 1.34 crore pay package and the unusually large aggregate RPT limits (especially Rs. 50 crore per subsidiary) are the items most worth scrutinising from a minority shareholder perspective.