Please find attached Scrutinizer''s Report on the Postal Ballot
SHALPAINTS · price
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Shalimar Paints conducted a postal ballot (voting period April 17 to May 16, 2025) to seek shareholder approval for two resolutions: appointing Mr. Kuldip Raina as Director and as Managing Director & CEO (MD & CEO). Both resolutions passed with overwhelming shareholder support. The Director appointment received 99.99% votes in favour (6,22,25,782 votes for, 789 against), while the MD & CEO appointment received 99.997% support (6,22,24,548 votes for, 2,023 against). Total voting turnout was 74.33% of outstanding shares, with promoters voting 100% in favour of both resolutions. Promoters were not interested in the resolutions, indicating Mr. Raina is not from the promoter family.
A new MD & CEO is taking the helm with near-unanimous shareholder backing, which provides a stable mandate for leadership. For shareholders, this is a significant governance change at the top — watch for the new leader's strategic direction and any turnaround or growth plans that may follow.