Shanti Overseas (India) Limited has informed the Exchange regarding Notice of Postal Ballot
SHANTI · price
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On the reaction day the stock moved 3.4 pts more than Nifty Microcap 250 and 2.4 pts more than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shanti Overseas (India) Limited has issued a Postal Ballot Notice seeking shareholder approval via e-voting for four board appointments. The resolutions include: (1) appointment of Mr. Manish Harishankar Dubey as Managing Director and Chairman for a 5-year term (March 17, 2025 to March 16, 2030) with an annual fixed pay of Rs. 3,00,000 plus perquisites and benefits, (2) appointment of Ms. Tejal Dinkar Vaze as Independent Director for a 5-year term, (3) appointment of Mr. Ashish Kumar Naik as Non-Executive Director, and (4) appointment of Mr. Digvijay D. Singh as Independent Director for a 5-year term. All four appointments are proposed as Special Resolutions. The e-voting window runs from May 16, 2025 (9:00 AM IST) to June 14, 2025 (5:00 PM IST), with results expected by June 17, 2025.
These are routine corporate governance resolutions seeking shareholder ratification of recently appointed directors. The board restructuring adds a new Managing Director/Chairman along with two Independent Directors, strengthening compliance with SEBI's requirement that at least half the board comprise independent directors. No material financial impact for shareholders as the MD's compensation (Rs. 3 lakh p.a. fixed pay) is modest.