Sonata Software Limited has informed the Exchange regarding Notice of Postal Ballot
SONATSOFTW · price
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Sonata Software Limited has issued a Postal Ballot Notice seeking shareholder approval for the re-appointment of Mr. P Srikar Reddy (DIN: 00001401) as Executive Vice Chairman and Whole-Time Director for a two-year term, from 4th April 2026 to 3rd April 2028. The Board approved the re-appointment on 6th February 2026, on the recommendation of the Nomination and Remuneration Committee. His fixed compensation has been set at Rs. 50 lakhs per annum or 0.2% of consolidated Profit After Tax, whichever is lower, along with car, employee benefits, and club membership reimbursements. The e-voting period runs from 2nd March 2026 (9:00 AM) to 31st March 2026 (5:00 PM), with NSDL as the e-voting agency and Mr. M V Bhat appointed as the scrutinizer. Mr. Srikar Reddy, aged 67, has been with Sonata since 1986, holds 30,90,431 shares (1.10%) in the company, and attended all 4 board meetings held in FY 2025-26.
This is a routine corporate governance item with minimal expected impact on the stock price. The re-appointment ensures leadership continuity, and the proposed remuneration is modest and profit-linked, aligning the director's interests with shareholders. Approval of an ordinary resolution is typically a procedural formality.