PVR INOX Limited has informed the Exchange regarding Postal Ballot Notice dated March 17, 2026.
PVRINOX · price
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PVR INOX has issued a Postal Ballot Notice dated March 17, 2026 seeking shareholder approval through e-voting for a special resolution to allow Mr. Pavan Kumar Jain (DIN: 00030098), the company's Non-Executive Chairman and Promoter, to continue on the board after he turns 75 on May 17, 2026. The approval is required under SEBI Regulation 17(1A), which mandates a special resolution for any non-executive director continuing past 75 years. The e-voting window runs from March 27, 2026 to April 25, 2026, with results to be announced by April 28, 2026. Mr. Jain holds 3,08,992 shares (0.31% of paid-up capital), recorded 100% board attendance in FY 2025-26, and does not draw remuneration or sitting fees from the company, though the company pays a brand license fee of 0.25%-0.30% of consolidated turnover for use of the 'INOX' brand owned by him. The Board and Nomination & Remuneration Committee have recommended his continuation citing his strategic guidance, role in the PVR-INOX merger, and governance leadership.
This is a routine regulatory filing required for the Chairman's continuation. Shareholders will vote on the resolution between March 27 and April 25, 2026. If the special resolution is not passed, Mr. Pavan Kumar Jain would have to step down from the board on May 17, 2026 when he turns 75, which could create a leadership transition concern for a promoter-led company. Approval is expected given the Board's recommendation and disclosed governance safeguards.