Sterling Tools Limited has informed the Exchange regarding Notice of Postal Ballot
STERTOOLS · price
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Sterling Tools Limited is seeking shareholder approval via postal ballot for appointing Mr. Anish Agarwal (currently Non-Executive Director) as Whole Time Director for 5 years starting May 15, 2026. The appointment requires a Special Resolution as his proposed remuneration of Rs 1 crore annually (Basic Salary Rs 96 lakh + Perquisites Rs 4 lakh) for 3 years starting July 1, 2026 exceeds SEBI limits for promoter-group executive directors. Mr. Anish Agarwal is the son of Chairman Mr. Anil Aggarwal and brother of existing Whole Time Director Mr. Akhill Aggarwal. He holds 27,37,317 equity shares and has 16+ years of experience in automotive manufacturing. The company has posted strong financials with net profit of Rs 6,420.21 lakh in FY 2025-26. Remote e-voting runs from May 28 to June 26, 2026.
Shareholders should vote on this appointment as it involves a significant change in company leadership structure and substantial remuneration to a promoter family member. The appointment elevates a family member from non-executive to executive role with governance implications.