Mindteck (India) Limited has informed the Exchange about Communication to shareholders regarding Postal Ballot Notice - Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Mindteck (India) Limited has circulated a Postal Ballot Notice to shareholders seeking approval for a Related Party Transaction involving the appointment of Mr. Karim Dhanani as CEO of Mindteck, Inc. (USA), a wholly-owned subsidiary. Mr. Karim Dhanani is the brother of Mr. Meenaz Dhanani, Non-Executive Director, which makes this a related party transaction requiring shareholder consent. His remuneration is set at USD 250,000 per annum from Mindteck Inc. (effective November 18, 2025) plus an additional INR 25 lakhs per annum from Mindteck India (effective February 6, 2026), for a one-year term ending November 17, 2026. The transaction represents only 0.054% of Mindteck India's consolidated turnover and 1.09% of the US subsidiary's standalone turnover. E-voting (via CDSL) runs from February 16, 2026 (9:00 AM) to March 17, 2026 (5:00 PM), with results expected by March 19, 2026.
This is a routine procedural shareholder approval for an executive appointment at the US subsidiary, not a fresh material event. Since the CEO's salary is borne entirely by the US subsidiary, the direct financial impact on Mindteck India is negligible. Retail investors should note the related party nature and cast their vote during the e-voting window if they wish to participate.