Notice of Postal Ballot including details of e-voting
NIBE · price
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NIBE Ltd is seeking shareholder approval via postal ballot for the appointment of Mr. Rajagopalan Madhavan (DIN: 08209860) as an Independent Director. Mr. Madhavan was appointed as Additional Director (Non-Executive Independent) by the Board on March 25, 2026, and now requires shareholder approval under SEBI regulations. He holds a Mechanical Engineering degree from NIT Raipur and M.Tech from IIT Madras. He is a former Chairman and Managing Director of Hindustan Aeronautics Limited (HAL) with extensive experience in aerospace and defence manufacturing. The appointment is for a term of 5 consecutive years, not liable to retire by rotation. Voting will be conducted electronically from May 20, 2026 to June 18, 2026, and requires a Special Resolution (75% majority).
Shareholders should vote on this appointment as it strengthens the Board with an experienced aerospace/defence industry veteran. Approval will formalise Mr. Madhavan's Independent Director status, potentially enhancing governance and strategic oversight, particularly given NIBE's apparent focus on aeronautics and space-related businesses.