TVS Srichakra Limited has informed the Exchange regarding Notice of Postal Ballot
TVSSRICHAK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
TVS Srichakra Limited has issued a Postal Ballot notice seeking shareholder approval for the re-appointment of Mr. R Naresh as Managing Director, designated as Executive Vice-Chairman, for a further term of 3 years starting 16th June 2026. Mr. Naresh, a co-founder, has been on the board since 2nd June 1982, with over 43 years of experience in the tyre and rubber industry. Because he will turn 70 during the proposed tenure, the re-appointment requires a special resolution under Section 196(3) of the Companies Act. His remuneration will be capped at 5% of net profits (subject to Schedule V limits in case of inadequate profits); he was paid Rs. 2.97 crore in FY25 and Rs. 2.31 crore as of 31st December 2025. The remote e-voting window runs from 28th February 2026 to 29th March 2026, with the cut-off date for eligibility being 20th February 2026.
This is a governance/corporate-action event with no immediate financial impact on shareholders. Investors holding shares as of 20th February 2026 should vote during the e-voting window. The re-appointment of a long-standing promoter-family MD signals leadership continuity at the tyre maker but also locks in a senior promoter executive who will be 70+ during the term.