Waaree Energies Limited has informed the Exchange regarding Notice of Postal Ballot
WAAREEENER · price
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Waaree Energies has issued a Postal Ballot notice seeking shareholder approval on four items through remote e-voting from May 16, 2025 (9:00 AM) to June 14, 2025 (5:00 PM), with the cut-off date set as May 9, 2025. The first resolution seeks to appoint Mr. Rajinder Singh Loona (former SEBI Executive Director - Law) as an Independent Director for a 5-year term from March 26, 2025 to March 25, 2030, even though he will turn 75 during the term. The second and third resolutions seek approval to amend the Waaree ESOP 2021 plan and extend its benefits to employees of subsidiary companies. The fourth resolution is an ordinary resolution to appoint Mr. Ankit Doshi (described as a related party) as President-Strategy with remuneration of up to Rs. 100 lakh per annum, which the Board can later raise to Rs. 200 lakh per annum without further shareholder approval.
These are largely governance and routine compensation items. The ESOP amendments may result in some equity dilution over time if options are exercised. Mr. Loona's appointment adds strong regulatory and securities-law expertise to the board, while the related-party appointment of Mr. Doshi as President-Strategy is a modest cost but worth monitoring as it can be increased to Rs. 200 lakh without further member approval.