Prabha Energy Limited has informed the Exchange regarding Notice of Postal Ballot
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Prabha Energy Limited has issued a Postal Ballot Notice seeking shareholder approval through e-voting on three key resolutions. The first resolution seeks to appoint Mrs. Shivangi Digant Shah (DIN: 11200412) as a Non-Executive Independent Director for a five-year term from November 4, 2025 to November 3, 2030. The second resolution seeks to regularize Mr. Shanil Paras Savla (DIN: 08763065), currently an Additional Director, as an Executive Promoter Director effective January 1, 2026. The third and most significant resolution seeks to re-designate Mr. Shanil Paras Savla as Managing Director of the company for a three-year period (January 1, 2026 to December 31, 2028) with a monthly salary of up to Rs. 6,00,000 and additional perquisites including insurance cover up to Rs. 6 lakh per annum and club fees up to Rs. 4.5 lakh per annum. The cut-off date for voting eligibility is December 26, 2025, with e-voting running from January 1, 2026 to January 30, 2026.
Shareholders should review and vote on these resolutions as they involve key board-level changes, particularly the elevation of a promoter to Managing Director role. The MD appointment represents a significant leadership appointment that could influence the company's strategic direction in the oil and gas exploration and production sector. Shareholders who do not approve should ensure they cast their dissent through e-voting before the January 30, 2026 deadline.