Menon Bearings Limited has informed the Exchange regarding Notice of Postal Ballot

Board & Shareholder Meetings View source PDF

MENONBE · price

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+2.3%1-day move

₹114.40

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AI summary

Menon Bearings Limited is seeking shareholder approval via postal ballot for the appointment of Mr. Arun Aradhye (currently Whole Time Director and CFO) as Managing Director for 5 years effective 4th March 2026. The previous Managing Director, Mr. R. D. Dixit, stepped down on 3rd March 2026 due to advancing age. The appointment requires a Special Resolution because Mr. Aradhye (currently 69 years old) will exceed 70 years during his tenure, triggering Section 196(3) of the Companies Act. The proposed monthly remuneration is Rs. 8.80 lakh including salary of Rs. 4.20 lakh plus allowances. His last drawn remuneration was Rs. 89.92 lakh in FY 2024-25. Remote e-voting period runs from 10th April 2026 to 9th May 2026, with results on 12th May 2026.

Likely market impact

This is a routine leadership transition following the outgoing MD's retirement. Mr. Aradhye's internal promotion ensures continuity of management with an experienced executive who has been with the company since 2011. Shareholders should note the increased monthly remuneration package and the special resolution requirement due to the appointee's age.