Apeejay Surrendra Park Hotels Limited has informed the Exchange regarding Notice of Postal Ballot
PARKHOTELS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Apeejay Surrendra Park Hotels has issued a postal ballot notice for three special business items to be voted on via remote e-voting from April 5, 2025 to May 4, 2025. The first resolution seeks shareholder approval to re-appoint Ms. Priya Paul, Chairperson and Promoter, as Whole-Time Director for another five-year term starting June 1, 2025. The second resolution (special) seeks approval of her revised remuneration at a fixed pay of ₹63 lakh per month, with variable pay up to 50% of annual fixed pay and annual increments capped at 25%, effective April 1, 2025 to March 31, 2028. The third resolution (special) seeks approval to formally appoint Mr. Ranjit Kumar Pachnanda, a former senior government and police official, as Independent Director for five years from February 15, 2025 to February 14, 2030. The cut-off date for voting eligibility is March 28, 2025, and results will be declared on or before May 6, 2025.
These are largely procedural governance approvals expected to pass given promoter alignment, but shareholders should note the significant executive remuneration of around ₹7.56 crore per year in fixed pay plus performance-linked incentives for Ms. Priya Paul. The board is being strengthened with the addition of an experienced Independent Director, which is a positive corporate governance signal.