Disclosure of Voting Results of the Postal Ballot Process by the company through Remote E-Voting.
MENONBE · price
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Menon Bearings Ltd has announced the results of a postal ballot for appointing Mr. Arun Aradhye as Managing Director of the company. Aradhye was previously serving as Whole-Time Director and Chief Financial Officer (CFO). The special resolution was passed with overwhelming shareholder approval - 99.99% of votes cast were in favour (24.83 million votes) versus only 2,601 votes against out of 24.83 million valid votes polled. The voting took place between April 10 and May 9, 2026, with the resolution deemed passed on May 9, 2026. Promoter and public institutional shareholders voted 100% in favour, while public non-institutional shareholders showed 97.23% in favour. Total valid votes represented 44.31% of the company's 56.04 million outstanding shares.
Shareholders have approved the elevation of Mr. Arun Aradhye to Managing Director, consolidating executive leadership under his role as both former CFO and Whole-Time Director. This signals strong promoter and institutional confidence in the current management team and is unlikely to negatively impact the stock.