Notice of Postal Ballot
JINDALSTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Jindal Steel Limited is seeking shareholder approval via postal ballot for three resolutions: (1) appointment of Mr. Debojyoti Roy as Director, (2) appointment of Mr. Debojyoti Roy as Wholetime Director for 3 years from March 27, 2026, and (3) re-appointment of Mr. Damodar Mittal as Wholetime Director for another 3 years from March 28, 2026. Mr. Debojyoti Roy brings over 25 years of experience in steel and manufacturing sectors. The proposed remuneration for Mr. Roy includes basic salary of Rs. 56 lakh p.a., flexible compensation of Rs. 77.28 lakh p.a., variable pay up to Rs. 90 lakh p.a., and long-term incentive of Rs. 90 lakh. For Mr. Mittal, the basic salary is Rs. 71.62 lakh p.a. with flexible compensation of Rs. 98.84 lakh p.a. and variable pay up to Rs. 1.19 crore p.a. Voting period runs from May 20, 2026 to June 18, 2026.
Approval of these resolutions ensures continuity in leadership and formalizes the appointment of a new executive director with significant industry experience. The substantial variable pay components tied to company performance (Cash Score based on EBITDA and working capital changes) align management incentives with shareholder interests.