Notice of Postal Ballot
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Patels Airtemp (India) Ltd has issued a Postal Ballot notice seeking shareholder approval via remote e-voting for the re-appointment of Mr. Sanjivkumar N. Patel as Chairman & Managing Director for a further period of 3 years, from 20th May 2026 to 19th May 2029. He will be paid a salary of Rs. 5,50,000 per month plus perquisites and allowances (including medical, insurance, car, PF, and gratuity as per company rules). His total remuneration in FY 2024-25 was Rs. 61,89,632. The Board, Nomination & Remuneration Committee, and Audit Committee have already approved the proposal, classifying it as a related party transaction. E-voting starts on 9th March 2026 and ends on 7th April 2026, with results to be announced by 9th April 2026.
Routine governance exercise requiring shareholder approval for a promoter-director's re-appointment and pay package. Approval is widely expected as the Board and committees have already endorsed it, and the remuneration falls within SEBI/Companies Act limits. No major material impact on shareholders beyond confirming continuity of current leadership.