Munjal Auto Industries Limited has informed the Exchange about notice of postal ballot
MUNJALAU · price
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Munjal Auto Industries has issued a notice of postal ballot to seek shareholders' approval for the re-appointment of Mrs. Avi Sabavala (DIN 08246256) as a Non-Executive Independent Director for a second term of 5 years, from April 1, 2025 to March 31, 2030. The Board had approved this re-appointment on April 24, 2025, on the recommendation of the Nomination and Remuneration Committee. The resolution will be passed as a Special Resolution through remote e-voting, which opens on May 9, 2025 and closes on June 7, 2025, with results to be announced on or before June 10, 2025. Mrs. Sabavala, aged 67, holds post-graduate qualifications in Social Sciences, Law and Management, and has served as past president of the Vadodara Chamber of Commerce & Industry. She does not hold any shares in the company and is not related to any other directors or KMPs.
This is a routine governance action with no material impact on the stock price. Shareholders should vote on the resolution during the e-voting window. Approval is largely expected as the re-appointment is a standard second-term continuation for an existing Independent Director.