Jet Freight Logistics Limited has informed the Exchange about General Updates
JETFREIGHT · price
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Jet Freight Logistics Limited has issued a Postal Ballot Notice seeking shareholder approval via remote e-voting for two special resolutions. The first is the re-appointment of Mr. Richard Francis Theknath as Managing Director and Chairman, and the second is the re-appointment of Mr. Dax Francis Theknath as Whole-time Director, both for a three-year term from June 20, 2026 to June 19, 2029. Each director will receive a base remuneration of Rs. 1.5 crore per annum, with a salary scale that may rise up to Rs. 2 crore per annum, plus performance-linked incentives tied to profit before tax. The company is also seeking approval under SEBI's Regulation 17(6)(e) since the proposed pay may exceed the standard 2.5% of net profits or Rs. 5 crore thresholds. The e-voting window runs from April 29, 2026 (9:00 a.m.) to May 28, 2026 (5:00 p.m.), with results to be declared on or before May 30, 2026.
Shareholders get to vote on retaining two promoter-family executives for another three years at elevated pay levels, with a combined potential payout of up to Rs. 4 crore annually plus incentives. Approval is largely expected given promoter control, but retail investors should note the request to waive standard SEBI pay caps.