Vishnu Chemicals Limited has informed the Exchange with copy of minutes of Postal Ballot
VISHNU · price
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Vishnu Chemicals Limited has filed minutes confirming the re-appointment of Mr. Ch. Siddartha as Joint Managing Director for another 5-year term (May 2, 2026 to May 1, 2031). The postal ballot was conducted via remote e-voting from March 24 to April 22, 2026, with results declared on April 24, 2026. The special resolution was passed with overwhelming shareholder approval of 98.47% (11,66,453 votes in favor out of 11,84,489 valid votes). The approved remuneration package includes a minimum salary of Rs 72 lakhs per annum, along with perquisites such as medical reimbursement, leave travel allowance, club fees, company car with chauffeur, and telephone benefits. Additionally, Mr. Siddartha will receive commission up to 1.25% of the company's previous year net profits.
The strong shareholder approval (98.47%) signals confidence in the current leadership and provides continuity in company management, which is generally positive for stakeholders. The remuneration is within statutory limits prescribed under the Companies Act, 2013.