Rico Auto Industries Limited has informed the Exchange regarding Notice of Postal Ballot
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Rico Auto Industries has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting for five special resolutions. The key items include: (1) continuing payment of commission to Non-Executive Directors at a cap of 1% of net profits or Rs. 1 crore per year (whichever is lower) for another five-year period from April 1, 2025 to March 31, 2030; (2) re-appointment of Ms. Sarita Kapur as Independent Director for a second term of five years (August 28, 2025 to August 27, 2030); and (3) re-appointment of three Executive Directors — Shri Kaushalendra Verma, Shri Rajiv Kumar Miglani, and Shri Samarth Kapur — each for a two-year term from August 26, 2025 to August 25, 2027. Mr. Verma's fixed basic salary range is proposed at Rs. 3–5 lakhs per month plus HRA, perquisites, and performance incentives. The e-voting window runs from June 25, 2025 (9:00 AM) to July 24, 2025 (5:00 PM), with results to be declared by July 28, 2025. The cut-off date for identifying eligible voters is June 13, 2025.
These are routine corporate governance items — leadership continuity is preserved through re-appointments of the existing board, and the non-executive director commission arrangement is simply being renewed with the same caps as before. No material financial, strategic, or structural change is expected for shareholders.