Voting results of 9th Postal Ballot
Awaiting price reaction for this filing.
ZF Commercial Vehicle Control Systems India Limited has announced the results of its 9th Postal Ballot, conducted via remote e-voting from May 23 to June 21, 2025. Two resolutions were put to vote. Resolution 1 (Special Resolution) for the re-appointment of Mr. Mahesh Chhabria as an Independent Director for 5 years (May 16, 2025 to May 15, 2030) was passed with 99.01% votes in favour (1,70,38,867 shares) and only 0.99% against (1,70,910 shares). Resolution 2 (Ordinary Resolution) for the appointment and remuneration of Mr. Paramjit Singh Chadha as Managing Director for the period July 1, 2025 to December 31, 2027 was passed with an overwhelming 99.93% votes in favour (1,71,98,136 shares) and just 0.07% against (11,641 shares). The cut-off date for eligibility was May 16, 2025, with 34,295 total shareholders on record. The promoter group voted unanimously in favour of both resolutions.
Both resolutions passed with overwhelming shareholder approval, signalling strong confidence in the company's leadership decisions. The re-appointment of an Independent Director and appointment of a new Managing Director provide continuity and clarity in governance, which is positive for shareholder sentiment.