Notice of Postal Ballot for appointment of:- 1. Mr. Samarth Parekh as Director of the Company 2. Mr. Samarth Parekh as a Joint Managing Director of the Company. 3.. Mr. Anil Kumar Murarka ....
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SMIFS Capital Markets Limited has issued a Postal Ballot Notice seeking shareholder approval for three resolutions via remote e-voting (April 10 – May 9, 2025). The first two resolutions seek to appoint Mr. Samarth Parekh (DIN: 00199598), aged 44, as Director and then as Joint Managing Director for 3 years from April 8, 2025, with a salary of Rs. 5.5 lakh per month plus HRA, PF, and other perquisites. The third resolution seeks to appoint Mr. Anil Kumar Murarka (DIN: 00571568) as Non-Executive Independent Director for a 5-year term (April 4, 2025 to April 3, 2030). Mr. Samarth Parekh is the son of the Company's Chairman, Mr. Utsav Parekh, and brings over 15 years of investment banking experience. The Company's effective capital stood at Rs. 3,613.23 lakhs as of March 31, 2024, with FY24 profit after tax of Rs. 241.09 lakhs.
The appointment of the Chairman's son as Joint Managing Director signals a clear promoter-family succession move at the top of the company, which shareholders should evaluate for governance implications. The induction of a new Independent Director brings fresh oversight to the board. Approval of these resolutions through the postal ballot will formalize the board changes already made by the existing board.