Mahanagar Gas Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
MGL · price
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Mahanagar Gas Limited has announced the results of a postal ballot where shareholders approved two key board appointments. Mr. Deepak Gupta, a nominee of GAIL (India) Limited, was appointed as Non-Executive Non-Independent Director and designated as Chairman. Mr. Praveer Kumar Srivastava was appointed as Managing Director. Both resolutions passed with overwhelming shareholder approval - Resolution 1 received 92.73% votes in favor (7.27% against) and Resolution 2 received 94.78% votes in favor (5.22% against). The voting took place via remote e-voting from April 20 to May 19, 2026, with approximately 83.35% of outstanding shares participating. The scrutinizer confirmed all procedures were conducted fairly and transparently with no invalid votes.
The appointment of a GAIL nominee as Chairman reinforces the majority shareholder's control over the company. The new Managing Director appointment brings fresh leadership to the company. Both appointments received strong institutional support, which is generally positive for corporate governance stability.