Neogen Chemicals Limited has informed the Exchange regarding outcome of Board meeting held on Jun 03, 2025.1) Continuation of Directorship of Prof. Ranjan Kumar Malik2) Calendar of events for Postal Ballot3) Notice received from NSE.
NEOGEN · price
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Neogen Chemicals' Board has approved the continuation of Prof. Ranjan Kumar Malik (DIN: 08221989) as a Non-Executive Independent Director beyond the age of 75, until October 5, 2028, subject to shareholder approval via Postal Ballot. A Postal Ballot notice has been cleared, with e-voting open from June 13 to July 12, 2025 and results expected on July 15, 2025. Separately, NSE has imposed a fine of Rs. 3,61,080 (including 18% GST) for non-compliance with Regulation 17(1A) of the Listing Regulations, as the earlier special resolution for the director's re-appointment did not specifically cite this regulation. The fine covers 63 days of non-compliance for the quarter ended December 31, 2024 and 90 days for the quarter ended March 31, 2025 at Rs. 2,000 per day. The company has stated there is no material impact on operations or finances other than the fine amount.
The fine is small (about Rs. 3.6 lakh) and the company says it does not affect operations, but the governance lapse flagged by NSE around an independent director's appointment is a minor negative signal. Shareholders will vote on the director's continuation by July 12, 2025; the company's plan to seek a fresh special resolution may draw some governance scrutiny in the near term.