Postal Ballot Notice dated April 01, 2025
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Shish Industries Limited has issued a Postal Ballot Notice dated April 01, 2025 seeking shareholder approval through e-voting (April 04 to May 03, 2025) for four special items. First, Mr. Rameshbhai Kakadiya, a Promoter-Shareholder, will shift from Whole-time Director to Non-Executive Director, and will cease to be a Key Managerial Personnel (KMP) with effect from March 21, 2025. Second, the company is seeking approval for material related party transactions with its subsidiary Interstar Polyfab Private Limited (IPPL) for FY 2025-26, with limits of up to ₹2,000 lakh each for sale/purchase of goods, availing/rendering of services, and providing loans/guarantees/securities. Third, Ms. Shital Tamakuwala (DIN: 11013824) is being appointed as a Woman Non-Executive Independent Director for a 5-year term (March 21, 2025 to March 20, 2030). Fourth, the remuneration of Chairman and Managing Director Mr. Satishkumar Dayabhai Maniya is being revised with effect from April 01, 2025, for his remaining term.
Shareholders are being asked to approve a promoter director stepping down from an executive/KMP role (while remaining on the board), a substantial related party transaction limit with the subsidiary, a new independent woman director, and a pay hike for the CMD. The RPT and remuneration items may draw governance attention; the e-voting outcome (due by May 06, 2025) will be material for minority shareholders.