Univastu India Limited has informed the Exchange regarding Notice of Postal Ballot
UNIVASTU · price
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Awaiting price reaction for this filing.
Univastu India Limited has issued a Postal Ballot Notice seeking shareholder approval through a special resolution for the continuation of Mr. Dhananjay Barve (DIN: 00066375) as a Non-Executive Independent Director after he crossed the age of 75 years on December 6, 2025. Mr. Barve, a Fellow Chartered Accountant with over 40 years of experience in direct taxation, has been on the board since November 14, 2019, and is currently serving his second 5-year term ending November 13, 2029. He chairs the Audit Committee and holds 64,050 equity shares in the company. This approval is required under SEBI's Listing Regulation 17(1A), which mandates a special resolution for any non-executive director aged 75 or above. The e-voting window runs from March 6, 2026 to April 4, 2026, with results expected by April 7, 2026.
This is a routine governance compliance item and not expected to materially impact the stock price. Shareholders need to vote on the resolution, but since Mr. Barve's continuation is already approved by the Board and Nomination & Remuneration Committee, approval is likely. Investors should note the regulatory significance of having an independent director above 75 continue on the board.