Maharashtra Scooters Limited has informed the Exchange regarding Notice of Postal Ballot
MAHSCOOTER · price
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Awaiting price reaction for this filing.
Maharashtra Scooters Limited has issued a postal ballot notice seeking shareholder approval to continue Sanjiv Bajaj (DIN: 00014615) as a Non-Executive, Non-Independent Director beyond 19 July 2025. This approval is required under SEBI Listing Regulation 17(1D) since Bajaj, who was appointed on the board in 2006, is not liable to retire by rotation. E-voting will be open from 3 June 2025 (9:00 AM) to 2 July 2025 (5:00 PM), with the cut-off date for eligibility set as 23 May 2025. Sanjiv Bajaj currently serves as Chairman of Maharashtra Scooters and is the CMD of Bajaj Finserv Limited, drawing Rs. 8 lakh in remuneration last year with no personal shareholding in the company. The result will be announced on or before 4 July 2025.
This is a routine regulatory compliance matter with negligible impact on stock price. Given the Bajaj Group's controlling stake in Maharashtra Scooters, the resolution is almost certain to pass without controversy.