Paradeep Phosphates Limited has informed the Exchange regarding Notice of Postal Ballot
PARADEEP · price
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Paradeep Phosphates Limited is seeking shareholder approval via postal ballot for the re-appointment of Mrs. Rita Menon as a Non-Executive Independent Director for a second term of 3 years (June 27, 2026 to June 26, 2029). Mrs. Menon, currently 74 years old, is a former Indian Administrative Service officer with over four decades of experience in public administration and policy formulation. She was first appointed as Independent Director in June 2023 and her current term expires on June 26, 2026. The resolution also seeks shareholder approval for her continuation as Director beyond the age of 75 years, as required under SEBI regulations. The e-voting period runs from May 26, 2026 to June 24, 2026. The company paid Rs. 16.20 lakhs as sitting fee and commission to her during FY 2025-26.
This is a routine governance matter involving the re-appointment of an experienced independent director. The resolution is expected to pass given the Board's recommendation and Nomination and Remuneration Committee's approval. No material impact on stock price is anticipated as this is a standard board continuity matter.