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) Limited has sent a Postal Ballot Notice to shareholders seeking their approval for a Related Party Transaction. The transaction involves the appointment of Mr. Karim Dhanani as Chief Executive Officer of Mindteck, Inc. (USA), the company's wholly owned subsidiary, effective November 18, 2025, for a one-year term. Mr. Karim Dhanani is the brother of Mr. Meenaz Dhanani, Non-Executive Director of Mindteck India, which makes this a related party transaction. He will receive USD 250,000 per annum from the US subsidiary plus INR 25 lakhs per annum from Mindteck India. The transaction represents 0.054% of Mindteck India's consolidated turnover (Rs. 424.42 crore) and 1.09% of Mindteck Inc.'s standalone turnover (USD 22.85 million). Shareholders can vote electronically from February 16, 2026 to March 17, 2026, with results to be announced by March 19, 2026.
This is primarily a compliance-driven shareholder vote and is unlikely to materially affect the stock price, as the CEO's remuneration is entirely borne by the US subsidiary. Shareholders should review whether they are comfortable with the related party arrangement, but the financial exposure for Mindteck India is minimal.