Isgec Heavy Engineering Limited has informed the Exchange regarding Notice of Postal Ballot
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Isgec Heavy Engineering has issued a postal ballot notice seeking shareholder approval for the re-appointment of four directors. The resolutions include: (1) Mr. Aditya Puri as Managing Director for 5 years from May 1, 2026 to April 30, 2031, with a basic salary of Rs 21 lakh per month, plus perquisites up to Rs 20 lakh per month and commission capped at 2.5% of net profits; (2) Mr. Kishore Chatnani as Joint Managing Director and CFO for 5 years from June 28, 2026 to June 27, 2031, with total remuneration not exceeding Rs 3.52 crore in FY26-27; (3) Mr. Sanjay Gulati as Joint Managing Director and Head-Manufacturing for the same 5-year term, with total remuneration not exceeding Rs 3.53 crore; and (4) Mr. Arvind Sagar as Independent Director for a second consecutive 5-year term from June 28, 2026. E-voting runs from February 26, 2026 to March 27, 2026, with results expected by March 29, 2026. Mr. Aditya Puri is a Promoter and the son of Promoter Director Mr. Ranjit Puri.
This is a routine governance action ensuring leadership continuity at the top. Approval would lock in the existing management team for another 5-year term, providing stability but also committing the company to the proposed remuneration structure. The promoter group (including Mr. Aditya Puri) holds 62.43% of equity, so approval of these resolutions is largely assured. The MD's commission is tied to net profits, which aligns his interests with shareholders.