Kirloskar Electric Company Limited has informed the Exchange regarding Notice of Postal Ballot for Appointment of Ms. Janaki Kirloskar, Chief Executive Officer of the Company to any office or place of profit by means of ordinary resolution.
KECL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kirloskar Electric Company has issued a postal ballot notice seeking shareholder approval for the appointment of Ms. Janaki Kirloskar as Chief Executive Officer of the company, with a proposed remuneration of ₹2.5 crore per annum plus annual increments. Ms. Janaki Kirloskar is the daughter of Executive Chairman Mr. Vijay R. Kirloskar and Vice Chairperson Mrs. Meena Kirloskar, and sister of Director Ms. Rukmini Kirloskar, making this a related party transaction under Section 188 of the Companies Act, 2013. The appointment was approved by the Board, Audit Committee, and Nomination & Remuneration Committee on February 11, 2026. E-voting will run from March 8, 2026 to April 6, 2026, with results to be declared within two working days of closure.
Shareholders are being asked to approve a ₹2.5 crore annual remuneration for a promoter's daughter as CEO, which represents a significant related party transaction. While the appointment consolidates promoter family control over the company's leadership, the high remuneration and family connections may draw scrutiny from minority shareholders during the postal ballot vote.