Mamata Machinery Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
MAMATA · price
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Mamata Machinery Limited conducted a postal ballot for shareholders to vote on continuation of Mr. Subba Padubidri Bangera as a Non-Executive Independent Director beyond the age of 75 years. Mr. Bangera was appointed in April 2024 for a five-year term ending April 2029, and will turn 75 on April 8, 2026. SEBI regulations require special resolution approval for independent directors continuing beyond age 75. The resolution was passed overwhelmingly with 15,654,735 votes in favor (99.99%) versus only 1,912 votes against out of 79 shareholders voting in favor and 13 against.
This is a routine corporate governance matter with no direct impact on the stock. The approval ensures continuity in the board composition and the company's experienced independent director can continue serving until April 2029. Shareholders have ratified this decision with near-unanimous support.