Proceedings of 9th Postal Ballot
Awaiting price reaction for this filing.
ZF Commercial Vehicle Control Systems India Limited (formerly WABCO India) has concluded its 9th Postal Ballot via remote e-voting between May 23 and June 21, 2025, with results declared on June 24, 2025. Two resolutions were passed: (1) A Special Resolution to re-appoint Mr. Mahesh Chhabria as Independent Director for a second 5-year term (May 16, 2025 to May 15, 2030), approved with 99.01% votes in favour (1,70,38,867 votes for vs 1,70,910 against); and (2) An Ordinary Resolution to appoint Mr. Paramjit Singh Chadha as Managing Director for the period July 1, 2025 to December 31, 2027, approved with 99.93% votes in favour (1,71,98,136 votes for vs 11,641 against). A total of 378 members participated, casting 1,72,09,777 valid votes out of the company's paid-up equity capital of 1,89,67,584 shares held by 34,295 members. Mr. Chadha's remuneration has a salary/commission ceiling of Rs. 350 lakhs per annum plus perquisites up to Rs. 100 lakhs per annum.
Both resolutions were passed with overwhelming shareholder support (over 99% in favour), reflecting strong investor confidence in the leadership continuity and governance decisions. The re-appointment of the Independent Director and the appointment of a new Managing Director ensure board stability and clear leadership transition from July 1, 2025 onward, with no material shareholder dissent.