Postal Ballot Notice
Awaiting price reaction for this filing.
ZF Commercial Vehicle Control Systems India (formerly WABCO India) has issued a Postal Ballot Notice seeking shareholder approval via remote e-voting for two items. First, the re-appointment of Mr. Mahesh Chhabria (DIN 00166049) as an Independent Director for a second term of five years, from May 16, 2025 to May 15, 2030, via a Special Resolution. Second, the appointment and remuneration of Mr. Paramjit Singh Chadha (DIN 06972549) as Managing Director for the period July 1, 2025 to December 31, 2027, via an Ordinary Resolution. Mr. Chadha's remuneration package includes a salary ceiling of Rs. 350 lakhs per annum plus perquisites and allowances capped at Rs. 100 lakhs per annum, along with standard PF and gratuity contributions. E-voting commences on May 23, 2025 (9:00 AM IST) and ends on June 21, 2025 (5:00 PM IST), with results to be announced on or before June 24, 2025. NSDL has been engaged as the e-voting agency.
Shareholders with holdings as of the May 16, 2025 cut-off date should review the proposed director appointments and exercise their vote during the e-voting window. These are routine governance items, though the remuneration terms for the new Managing Director are noteworthy given the overall ceiling structure.