ZF Commercial Vehicle Control Systems India Limited has informed the Exchange regarding Proceedings of Postal Ballot
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ZF Commercial Vehicle Control Systems India Limited has submitted the proceedings of its 9th Postal Ballot conducted via remote e-voting from May 23 to June 21, 2025, with results declared on June 24, 2025. Two resolutions were passed: (1) Re-appointment of Mr. Mahesh Chhabria as Independent Director for a second term of 5 years (May 16, 2025 to May 15, 2030), approved as a Special Resolution with 99.01% votes in favor (1,70,38,867 votes). (2) Appointment of Mr. Paramjit Singh Chadha as Managing Director from July 1, 2025 to December 31, 2027, approved as an Ordinary Resolution with 99.93% votes in favor (1,71,98,136 votes). A total of 378 members participated in the e-voting. Mr. Chadha's remuneration includes a salary/commission ceiling of Rs. 350 lakhs per annum plus perquisites capped at Rs. 100 lakhs per annum.
Both resolutions passed with overwhelming shareholder support (over 99%), indicating strong investor confidence. Shareholders should note the leadership transition: Mr. P. Kaniappan presided over the ballot as outgoing Managing Director, with Mr. Chadha set to take over from July 1, 2025. The committed MD remuneration of up to Rs. 450 lakhs annually (salary plus perquisites) is a key disclosure for governance and cost monitoring.