Shree Renuka Sugars Limited has informed the Exchange regarding Notice of Postal Ballot
RENUKA · price
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Shree Renuka Sugars has issued a Postal Ballot Notice dated 17 March 2026 seeking shareholder approval on three resolutions. The first is a special resolution to re-designate Mr. Atul Chaturvedi (age 71) from Executive Chairman to Non-Executive Director with effect from 1 April 2026, and to allow him to continue as a director after he turns 75, as required by SEBI rules. The second is an ordinary resolution to appoint Mr. Susheel Kumar Kamboj (age 45) as a Director of the company. The third is a special resolution to appoint Mr. Kamboj as Managing Director & CEO for a 5-year term, with a fixed salary of Rs. 3.51 crore per year, variable pay of Rs. 1.5 crore, and a one-time sign-on bonus of Rs. 2 crore. Mr. Kamboj, who was previously Managing Director of Syngenta India, has over 20 years of agribusiness leadership experience. E-voting runs from 7 April 2026 to 6 May 2026, with results to be announced by 8 May 2026.
This is a significant top-level leadership transition for shareholders to vote on — a new MD & CEO is being brought in from Syngenta to succeed the long-serving Executive Chairman, with a compensation package of around Rs. 7 crore (including sign-on). Approval of the resolutions will formalise the succession and allow the new management to take charge from 1 April 2026; rejection could delay the transition.