Notice of Postal Ballot dated 13th May, 2026.
SICAGEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sicagen India Ltd has issued a Postal Ballot notice (dated 13 May 2026) seeking shareholder approval for two ordinary resolutions: (1) appointment of Mr. Prasanna Joshi (DIN: 11702992) as a Director of the company, and (2) his appointment and remuneration as Whole-Time Director for three years effective 14 May 2026. Total annual remuneration is approximately Rs. 50 Lakhs, comprising Rs. 40.50 Lakhs basic salary and allowances, Rs. 5.50 Lakhs performance-linked pay, and up to Rs. 4 Lakhs in perquisites and statutory contributions. Mr. Prasanna Joshi, 42, has been with the company for 13 years and previously headed the Building Material Division. He is replacing Mr. Nandakumar Varma, who resigned from the Whole-Time Director role on 13 May 2026 due to personal reasons. Remote e-voting is open from 9 June 2026 to 8 July 2026, with the cut-off date set as 29 May 2026.
This is a routine leadership transition with no major red flags — the incoming WTD is an internal promotion from the existing management team, ensuring operational continuity. Shareholders should note the total pay package (around Rs. 50 Lakhs p.a.), which is comparable to his prior drawn salary of Rs. 47.89 Lakhs. The change in top management may be viewed as neutral to mildly positive, given the promoter's familiarity with the business.