Sterling Tools Limited has informed the Exchange regarding Notice of Postal Ballot
STERTOOLS · price
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Sterling Tools Limited has issued a Postal Ballot Notice seeking shareholder approval for two special resolutions. The first is the re-appointment of Mr. Anil Aggarwal as Chairman cum Whole Time Director for 5 years (April 1, 2026 to March 31, 2031) with a basic salary of Rs. 2.61 crore per annum, a 15% annual increment, plus 1% commission on net profits. The second is the re-appointment of Mr. Atul Aggarwal as Managing Director for the same 5-year period with a basic salary of Rs. 2.52 crore per annum, the same 15% annual increment, and 1% commission on net profits. Both appointments carry remuneration terms fixed for 3 years (till March 31, 2029). The remote e-voting window runs from February 26, 2026 (9:00 AM) to March 27, 2026 (5:00 PM), with the cut-off date set at February 20, 2026. Mr. Santosh Kumar Pradhan, Practicing Company Secretary, has been appointed as the Scrutinizer for the process.
This is a routine governance action, but shareholders should note that both directors are part of the promoter family and their combined remuneration may push total managerial pay beyond statutory limits, requiring the special resolution. The re-appointment signals continuity in leadership but approval is not automatic — shareholders will vote via e-voting over the coming month.