Hindustan Oil Exploration Company Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
HINDOILEXP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hindustan Oil Exploration Company Limited (HOEC) announced the results of its postal ballot conducted via remote e-voting from February 28 to March 29, 2026. All three resolutions were passed with the requisite majority. Resolution 1 (Special) approved the appointment of Dr. Jagadip Narayan Singh as Non-Executive Independent Director and Chairman, with 99.99% votes in favour (4.99 crore votes). Resolution 2 (Ordinary) approved the change in designation of Mr. Baroruchi Mishra from Non-Executive Independent Director to Non-Executive Non-Independent Director, with 99.99% in favour. Resolution 3 (Ordinary) approved the appointment of Mr. Baroruchi Mishra as Managing Director and CEO, with 98.37% in favour overall. The total voting turnout was 37.77% of outstanding shares (4.99 crore of 13.22 crore shares). Notably, on Resolution 3, public institutional investors voted 96.09% against the appointment (only 3.91% in favour), though the resolution still passed due to overwhelming support from public non-institutional shareholders (99.99% in favour).
Shareholders should note a leadership transition at HOEC: Mr. Baroruchi Mishra moves from an independent director role to Managing Director and CEO, while Dr. Jagadip Narayan Singh takes over as Chairman. The strong dissent from institutional investors on the MD & CEO appointment may warrant attention as it signals some institutional discomfort, though it did not affect the outcome.