Outcome of Postal Ballot and submission of Scrutineer''s Report.
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Patels Airtemp India Ltd announced the results of its Postal Ballot held via remote e-voting from April 28 to May 27, 2025. Two special resolutions were passed with overwhelming shareholder approval (99.93% in favor, 0.07% against). The first resolution re-appoints Mr. Shivang P. Patel as Whole-time Director for 3 years (June 1, 2025 to May 31, 2028) with a monthly salary of Rs. 5,50,000 plus perquisites; promoters were interested in this resolution. The second resolution appoints Mrs. Nidhi Yash Patel as an Independent Woman Director for a 5-year term (March 29, 2025 to March 28, 2030). Total of 2,649,927 votes were polled, representing 48.44% of outstanding shares, with 78 members voting in favor across both resolutions.
Both resolutions sailed through with near-unanimous support, indicating strong shareholder confidence in the company's leadership and governance. The re-appointment of the Whole-time Director and addition of a new Independent Woman Director ensure board continuity and gender diversity, which are positive governance signals. No material stock price impact is expected as the outcomes were largely procedural.