Mindteck (India) Limited has informed the Exchange regarding Notice of Postal Ballot
MINDTECK · price
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Awaiting price reaction for this filing.
Mindteck (India) has issued a Postal Ballot Notice dated August 18, 2025, seeking shareholder approval to appoint Mr. Yusuf Lanewala (DIN: 01770426) as Chairman and Managing Director for a 1-year term from August 8, 2025 to August 7, 2026, with a fixed pay remuneration of Rs. 1.50 Crore per annum. Mr. Lanewala, aged 71, currently serves as Non-Executive Chairman and holds 41,961 shares in the company; he has over 40 years of IT industry experience. The resolution is being moved as a Special Resolution since he is above 70 years of age, requiring approval under Part I of Schedule V of the Companies Act, 2013. E-voting through CDSL will run from August 21, 2025 (9:00 AM) to September 19, 2025 (5:00 PM), with results to be declared on or before September 23, 2025. The company's promoter is Embtech Holdings Limited, Mauritius, and its FY2024-25 turnover stood at Rs. 1,550.90 million with a profit after tax of Rs. 188.20 million.
Shareholders are being asked to approve the elevation of the current Non-Executive Chairman to an executive leadership role and his remuneration package, which is presented as within industry norms. The outcome is unlikely to materially move the stock unless shareholders object to the appointment or pay structure.