MERCANTILE · price
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Awaiting price reaction for this filing.
Mercantile Ventures Ltd has sent a postal ballot notice to shareholders seeking approval for two resolutions: (1) appointing Mr. N Umasankar (DIN: 07975664) as Director of the company, and (2) appointing him as Whole-time Director (Finance) & CFO for a two-year term from 27 October 2025 to 26 October 2027. Mr. Umasankar, aged 57, is already serving as the company's CFO since 22 June 2024 and has 32 years of finance and administrative experience. His proposed total annual remuneration is Rs. 39 lakhs, up from Rs. 35.75 lakhs as CFO. The e-voting window runs from 17 November 2025 to 16 December 2025, with results expected by 18 December 2025. The company operates in leasing of immovable properties and manpower services, reporting FY25 revenue of Rs. 3,656 lakhs and PAT of Rs. 689 lakhs.
This is a routine governance item formalising the existing CFO's elevation to include the Whole-time Director (Finance) designation with a modest pay hike. No major financial or strategic implications for shareholders; outcome is expected to be a procedural approval.