Postal Ballot Notice: 7 resolutions including borrowing powers hike up to Rs.1,000 Cr
KERNEX · price
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Kernex Microsystems is seeking shareholder approval via postal ballot for 7 items: raising borrowing limit to Rs.1,000 Crores over paid-up capital and reserves, creating security on company assets, raising pay for 3 directors (each to Rs.12.5 lakh per month plus commission and Rs.55 lakh one-time bonus), appointing Parvathi Manthena as Non-Executive Director, and ratifying the related party appointment of Alluri Sitarama Raju Manthena as GM Operations. E-voting runs from 30 June to 29 July 2026, with results by 31 July 2026.
Proposes a sharp jump in borrowing capacity to Rs.1,000 Cr, large hikes in director pay including bonuses, and new related party appointments; outcome rests on shareholder vote.