This is for filing the outcome of the Postal Ballot pursuant to the notice sent on May 16, 2025 to the shareholders, the resolution is deemed to be passed with requisite majority on the ....
NOVARTIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Novartis India announced the results of a Postal Ballot concluded on June 15, 2025, with two resolutions passed by shareholders. The first was a Special Resolution to re-appoint Mr. Sanker Parameswaran (DIN: 00008187) as an Independent Director for a second term of 5 years (June 22, 2025 to June 21, 2030), which received near-unanimous approval at 99.99% in favour (1,75,40,567 votes for vs 1,303 against). The second was an Ordinary Resolution approving a Related Party Transaction with Novartis Pharma AG (the parent group), which received 98.72% support (90,026 votes for vs 1,164 against); promoters were excluded from voting on this resolution as they are an interested party. Voting was conducted entirely via remote e-voting through NSDL among 35,438 shareholders on record.
Routine positive outcome for shareholders — the independent director's re-appointment ensures board continuity, and the parent-group RPT approval allows ongoing commercial transactions with Novartis Pharma AG to proceed without disruption. No share price impact expected as both resolutions passed with overwhelming majority.