IL&FS Investment Managers Limited has informed the Exchange regarding Notice of Postal Ballot seeking approval of the members of the Company, by way of remote e-voting process, for Continuation of Mr Chitranjan Singh Kahlon (DIN : 02823501) as Independent Non-Executive Director of the Company beyond the age of 75 years
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IL&FS Investment Managers has issued a Postal Ballot notice seeking shareholder approval, via remote e-voting, to continue Mr. Chitranjan Singh Kahlon (DIN: 02823501) as an Independent Non-Executive Director despite being over 75 years of age. Under SEBI and Companies Act rules, independent directors aged 75 or above require a special resolution from members to continue on the board. The company is following this standard regulatory procedure to obtain the required approval.
This is a routine compliance requirement and does not signal any change in board composition or governance concerns. Shareholders will vote on the proposal, but it is unlikely to materially affect the stock price.