Powerica Limited has informed the Exchange regarding Notice of Postal Ballot
POWERICA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Powerica Limited has issued a postal ballot notice for shareholder approval on the appointment of Mr. Rabindra Nath Nayak as an Independent Director. Mr. Nayak, who was appointed as Additional Director (Non-Executive Independent Director) effective April 21, 2026, has over 39 years of experience in the power sector and is a former Chairman & Managing Director of Power Grid Corporation of India Limited (PGCIL). He holds degrees from NIT Rourkela and IIT Kharagpur. The appointment is for a 5-year term from April 21, 2026 to April 20, 2031, and he will not be liable to retire by rotation. A special resolution is required partly because Mr. Nayak will turn 75 during his term, which requires member approval under SEBI regulations. Remote e-voting runs from May 12 to June 10, 2026, with results expected by June 12, 2026.
This appointment brings significant power sector expertise to Powerica's board, given Mr. Nayak's extensive experience at senior levels in PGCIL and NTPC. The stock is unlikely to see major immediate reaction, as this is a routine governance item, but the appointment of such a seasoned industry veteran could be viewed positively for the company's strategic direction in the power solutions business.