Updater Services Limited has informed the stock exchanges regarding Postal Ballot Notice - Change in designation of Mr. Amitabh Jaipuria (DIN : 01864871)
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Updater Services Limited has issued a postal ballot notice seeking shareholder approval for changing the designation of Mr. Amitabh Jaipuria from Non-Executive, Non-Independent Director to Senior Executive Director, along with his appointment as Whole-time Director and Key Managerial Personnel (KMP). Mr. Jaipuria has been associated with the company since March 2023, initially joining as Additional Executive Director before transitioning to a non-executive role. The proposed appointment is for 3 years with a fixed annual salary of Rs. 1.5 crore, significantly higher than his previous sitting fees (Rs. 1 lakh per board meeting). He brings over 37 years of leadership experience including CEO and MD roles. Remote e-voting runs from May 27 to June 25, 2026, with results expected by June 26, 2026.
Shareholders should note that Mr. Jaipuria's elevation to an executive role represents a significant governance change, as a previously non-executive director takes on operational leadership responsibilities. The substantial increase in compensation from sitting fees to a fixed salary of Rs. 1.5 crore per annum indicates increased executive commitment and may signal stronger strategic focus by the company.