Intimation of Notice of Postal Ballot
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Kreon Finnancial Services Ltd has issued a Postal Ballot Notice seeking shareholder approval for the appointment of Mrs. Riddhi Lunkad as Chief Strategy Officer of the company at a remuneration of ₹75,00,000 per annum (inclusive of perquisites). Mrs. Lunkad is the wife of Mr. Jaijash Tatia, the Promoter, Chairman and Managing Director, making this a Related Party Transaction under Section 188 of the Companies Act, 2013 and Regulation 23 of SEBI's Listing Regulations. The appointment was approved by the Board on February 13, 2026, based on recommendations of the Nomination and Remuneration Committee and Audit Committee. She is an MBA from USC with experience in supply chain, project management and business strategy across the USA and India. Remote e-voting runs from February 19, 2026 to March 20, 2026, with promoters and related parties required to abstain from voting on this resolution.
This is a routine governance matter for shareholders to approve a senior management appointment that qualifies as a Related Party Transaction. Since promoters are abstaining from voting, the outcome depends entirely on the public shareholders. Approval will formally regularize the appointment; rejection could delay or block the appointment, though the financial impact on the stock is minimal as the ₹75 lakh annual payout is not material to company operations.