Khadim India Limited has informed the Exchange regarding Notice of Postal Ballot
KHADIM · price
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Khadim India has sent a Postal Ballot Notice to shareholders seeking approval for three Special Resolutions through e-voting. The first resolution seeks to re-designate Mrs. Upama Mukherjee, a senior Chartered Accountant, as an Independent Director (not liable to retire by rotation) for a 5-year term from April 1, 2025 to March 31, 2030. The second resolution seeks to re-designate promoter Mr. Siddhartha Roy Burman (who holds 8.87% stake / 16,29,533 shares) from Managing Director to Executive Chairman for a 3-year term, with a proposed salary of up to ₹28.05 lakh per month plus commission up to 1% of net profits (past remuneration was ₹34.67 million in FY24). The third resolution seeks to re-designate his son Mr. Rittick Roy Burman from Whole-time Director to Managing Director for a 3-year term. E-voting runs from May 25 to June 23, 2025, with results to be declared on June 25, 2025. The company also mentioned a recent demerger of its distribution business as a strategic step to improve profitability.
This is a routine governance postal ballot that effectively formalises a promoter-family succession plan, with the founder Siddhartha Roy Burman moving to Executive Chairman and his son Rittick taking over as Managing Director. Shareholders should evaluate the proposed managerial remuneration package (up to ₹28.05 lakh/month plus 1% of net profits as commission) before voting. The re-designations are largely procedural and aligned with stated succession strategy, so material share price impact is unlikely barring shareholder dissent on remuneration.