RHI MAGNESITA INDIA LTD has informed the Exchange regarding Notice of Postal Ballot
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RHI Magnesita India has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting for four key board-level resolutions. The first is the appointment of Mr. Priyabrata Panda as a Non-Executive Independent Director for a five-year term from 28 May 2025 to 27 May 2030, leveraging his experience in the refractory industry. The second is the re-appointment of Mr. Nazim Sheikh (currently Chairman of the Nomination & Remuneration Committee) as an Independent Director for a second consecutive five-year term from 3 November 2025 to 2 November 2030. The third and fourth resolutions relate to Mr. Azim Syed, who has been CFO since May 2024, being appointed as a Director and as Whole-Time Director & CFO for five years (28 May 2025 to 27 May 2030), with a basic salary of ₹15.37 lakh per month (scale up to ₹25 lakh), perks up to 150% of basic, and performance-linked bonus up to 80% of gross salary. E-voting runs from 25 June 2025 to 24 July 2025, with results expected by 27 July 2025.
These are routine governance moves aimed at strengthening the board and formalising the CFO's role. No negative signals for shareholders; outcomes will depend on shareholder votes, which are typically a formality for uncontested appointments.