Shalimar Paints Limited has informed the Exchange regarding Proceedings of Postal Ballot
SHALPAINTS · price
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Shalimar Paints shareholders approved two resolutions via postal ballot that ran from April 17 to May 16, 2025. Mr. Kuldip Raina has been appointed as Director of the Company (ordinary resolution) and as Managing Director & CEO (special resolution). Both resolutions passed with overwhelming support: 99.99% in favour for the Director appointment and 99.997% in favour for the MD & CEO appointment, out of 6.22 crore shares polled (74.33% turnout). Promoters and promoter group voted 100% in favour on both resolutions. The scrutinizer was Mr. Ankush Agarwal of MAKS & Co., Company Secretaries.
Mr. Kuldip Raina officially takes charge as the new MD & CEO of Shalimar Paints, with shareholders giving near-unanimous backing. Investors should watch for any strategic direction or restructuring announcements from the new leadership in the coming quarters.