Notice of Postal Ballot
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Transcorp International has sent a postal ballot notice to shareholders seeking approval for two resolutions. The first is the re-appointment of Mr. Ayan Agarwal as Chief Executive Officer (Payment Systems) for three years from October 1, 2025 to September 30, 2028, with a revised monthly CTC of Rs. 6,79,029 (up from Rs. 5,29,123) plus an annual increment of up to 15% and 8% of Profit Before Tax (minimum Rs. 25 lakh per year). Mr. Ayan Agarwal is the son of promoter and director Mr. Ashok Kumar Agarwal, making this a related party transaction under Section 188(1)(f) of the Companies Act. The second resolution seeks to amend the ESOP-2017 by deleting Clause 14.4, which currently imposes a one-year lock-in on shares allotted upon exercise of stock options, to align with SEBI's 2021 SBEB regulations which do not require such a lock-in. E-voting runs from January 9, 2026 to February 7, 2026.
Shareholders should evaluate the significant executive remuneration being paid to a promoter family member, which includes a guaranteed minimum of Rs. 25 lakh plus 8% of profits. The ESOP amendment is employee-friendly and removes an unnecessary restriction, but investors may want to assess overall dilution from ESOPs already granted.