The Investment Trust Of India Limited has informed the Exchange regarding Notice of Postal Ballot
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The Investment Trust of India Limited has issued a postal ballot notice seeking shareholder approval via remote e-voting for two special resolutions. The first is the appointment of Mr. Sidharth Rath (DIN: 00682901), aged 55 and former MD & CEO of SBM Bank India, as an Independent Director for a 5-year term from May 09, 2025 to May 08, 2030. The second is the appointment of Mr. Banavar Anantharamaiah Prabhakar (DIN: 02101808), aged 71 and former Chairman & MD of Andhra Bank, as an Independent Director for the same 5-year term. Both were initially appointed as Additional Directors by the Board on May 09, 2025 and now require shareholder ratification. E-voting will run from May 21, 2025 (9:00 AM IST) to June 19, 2025 (5:00 PM IST), with results to be announced by June 21, 2025; the cut-off date for shareholder eligibility is May 09, 2025. Neither appointee holds any shares in the company, and both will only receive sitting fees for attending board and committee meetings.
This is a routine corporate governance step to formalize two new independent directors already onboarded by the Board, and is unlikely to move the stock price materially. It does strengthen board oversight by adding two senior banking and finance veterans.