Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 - Submission of Postal Ballot Notice
PAUSHAKLTD · price
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Awaiting price reaction for this filing.
Paushak Limited has sent a postal ballot notice to shareholders seeking approval for the appointment of Mr. Chintan Gosaliya as Whole-time Director, designated as Whole-time Director & Chief Operating Officer, for a 5-year term effective 2nd April 2025. The proposed remuneration ranges from Rs. 200 lakh to Rs. 450 lakh per annum, with an overall ceiling of 10% of net profits; his last drawn remuneration was Rs. 224 lakh p.a. Mr. Gosaliya is already serving as the company's COO since November 2023 and brings over 20 years of chemicals industry experience, including stints at Tata Chemicals (15 years) and Jubilant Ingrevia (8 years). Voting is open from 16 April 2025 to 15 May 2025 via NSDL's e-voting platform, and results will be announced by 17 May 2025.
This is largely a procedural formalisation of Mr. Gosaliya's existing COO role into a board-level Whole-time Director position, so it is unlikely to move the stock materially. Shareholders should review the remuneration band and simply vote through the e-voting process before 15 May 2025.