Orient Cement Limited has informed the Exchange regarding the Corrigendum to Notice of Postal Ballot dated May 29, 2025.
ORIENTCEM · price
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Orient Cement Limited has issued a corrigendum to its Postal Ballot Notice dated May 29, 2025, correcting a typographical error. Items 5, 6, and 7 of the notice — covering the appointment of three Independent Directors (Mr. Sudhir Nanavati, Mr. Ravi Kapoor, and Ms. Shruti Shah) — should be passed as 'Special Resolutions' instead of 'Ordinary Resolutions.' This effectively raises the approval threshold for these items to 75% (special resolution) from a simple majority (ordinary resolution). The e-voting window is currently open from May 30, 2025 to June 28, 2025. All other items in the original notice, including the appointment of Mr. Vaibhav Dixit as Wholetime Director & CEO, related party transactions with Ambuja Cements, ACC Limited, and Adani Enterprises for FY 2025-26, and the shift of the registered office from Odisha to Gujarat, remain unchanged.
This is a procedural correction, not a substantive change. The three Independent Director appointments now require a 75% majority vote to pass, raising the bar slightly. The change is particularly relevant for Mr. Sudhir Nanavati, whose continuation as a director past age 75 specifically requires a special resolution under SEBI rules. Shareholders who have already voted may want to re-evaluate given the revised threshold.