Intimation of Postal ballot Notice dated 2nd April,2025 in pursuant to Regulation 30 of SEBI( LODR) Regulations,2015. The E-voting will commence on Saturday, the 19th April,2025 from 9.00Am ....
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Haryana Leather Chemicals Ltd has issued a Postal Ballot Notice dated 2nd April 2025, seeking shareholder approval through e-voting on two items. The first is the re-appointment of Mr. Pankaj Jain (DIN: 00206564) as Managing Director for a further 5-year term, from 2nd April 2025 to 1st April 2030, via an Ordinary Resolution. The second is approval of his remuneration package via a Special Resolution, with a basic salary of Rs. 2,50,000 plus housing allowance of Rs. 1,00,000, other allowances of Rs. 35,000, medical allowance of Rs. 6,000, and LTA of Rs. 10,500 per month. The remote e-voting period runs from 19th April 2025 (9:00 AM) to 18th May 2025 (5:00 PM), with results to be announced by 20th May 2025. Mr. Pankaj Jain, aged 69, holds 7,52,530 equity shares (15.33% of the company's share capital) and his wife Mrs. Sippy Jain serves as Executive Whole-time Director.
Shareholders need to vote on these resolutions before 18th May 2025. Approval will lock in the existing Managing Director for another 5 years and formalize his increased pay structure. The continuation of the founder-promoter at the helm provides leadership continuity, though the remuneration increase may be a point of discussion for shareholders.