Notice of Postal Ballot
MAANALU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Maan Aluminium Ltd is seeking shareholder approval via postal ballot for two special business matters. First, the appointment of Mr. Karan Bhatia (72 years old, DIN: 11633574) as an Independent Director for a 5-year term from April 1, 2026 to March 31, 2031. Mr. Bhatia brings over five decades of experience in Indian film distribution sector. Second, and more significantly, the company proposes to alter its Memorandum of Association to add a new Object Clause (3A) allowing it to enter the power generation, transmission, and distribution business. The company has already established a solar power plant for captive use and now seeks to expand into commercial power/energy generation from various sources including solar, wind, hydro, and other forms. Voting period runs from May 30, 2026 to June 28, 2026.
The appointment of an experienced independent director strengthens board governance. More importantly, the proposed entry into power/energy business represents a major diversification from aluminum extrusion, potentially opening new revenue streams and reducing energy costs through captive generation. This strategic shift could be positive for long-term profitability.