EGM on 13 November 2026 to vote on MD re-appointment, ED appointment and a remuneration recovery waiver
An Extra-ordinary General Meeting is scheduled for Friday 13th November 2026 at 11:00 A.M. IST, to be held through video conference / other audio-visual means.
By ScoutQuest · · 3 min read
- EGM Date
- Friday 13th November 2026 at 11:00 A.M. IST
- E-voting Cut-off Date
- 6th November 2026
- Recovery Waiver Amount
- ~Rs 22.03 lakh
The company has issued the notice of an Extra-ordinary General Meeting (EGM) of its members. The meeting is scheduled for Friday 13th November 2026 at 11:00 A.M. IST and will be held through two-way video conference / other audio-visual means, hosted from the Registered Office. The deemed venue is the Registered Office at Plot B5, Block III, Industrial Development Area, Uppal, Hyderabad – 500039, Telangana.
What members are voting on
- Re-appointment of Sri Y.S.R. Venkata Rao (DIN: 00345524) as Managing Director for a term of 3 years with effect from 1st May 2027.
- Appointment of Mr. Y.V. Prashanth (DIN: 00345418) as Executive Director for a term of 3 years with effect from 12th October 2026.
- Waiver of recovery of remuneration of ~Rs 22.03 lakh paid or payable to Mr. Y.V. Prashanth, Executive Director, for services rendered during 1st June 2026 to 20th August 2026, which became refundable to the company because his appointment was not approved by the members.
Each of these is placed before shareholders as a Special Resolution, meaning the higher approval threshold applies.
Remuneration proposed for the Managing Director
- Basic Pay: ₹ 9,07,500/- per month
- H.R.A: ₹ 3,02,500/- per month
- Commission: 5% on profits (calculated as per Section 198 of the Companies Act, 2013)
- Medical benefit: medi-claim policy for ₹ 5,00,000/-
- Insurance: accidental insurance for ₹ 25,00,000/-
- Leave travel: one month's basic pay per year, accumulable up to 2 years
- Vehicle: company car with driver for official use; telephone and email for official use
- Gratuity: half month's basic pay for each completed year of service
- The Board is authorised to give an annual increment at 10% p.a. on this remuneration.
Remuneration proposed for the Executive Director
- Basic Pay: ₹ 6,67,000/- per month
- H.R.A: ₹1,66,500/- per month
- Medical benefit: medi-claim policy for ₹ 5,00,000/-
- Insurance: accidental insurance for ₹ 25,00,000/-
- Leave travel: one month's basic pay per year, accumulable up to 2 years
- Vehicle, telephone and email for official use; gratuity at half month's basic pay for each completed year of service
- Annual increment at 10% p.a. on such remuneration.
How to take part
- The cut-off date for entitlement to vote is 6th November 2026.
- Remote e-voting runs from Tuesday 10th November 2026 (09:00 A.M.) to Thursday 12th November 2026 (05:00 P.M.).
- Central Depository Services (India) Limited (CDSL) is the e-voting agency.
- The video conference facility opens 30 minutes before the start of the meeting, and up to 1000 members can join on a first come first serve basis; large shareholders holding 2% or more, promoters, institutional investors, directors and key managerial personnel can attend without this restriction.
- Proxy facility is not available for this EGM, though body corporates may send authorised representatives.
Why this may matter to a retail shareholder
- The two appointments and the pay packages are being put to a shareholder vote, so members have a say on how senior management is paid.
- The third item settles an amount of ~Rs 22.03 lakh that had become refundable to the company, which keeps the position on the Executive Director's past remuneration in order.
- Voting can be done electronically without attending the meeting.
Also from Alkali Metals
Record date fixed for EGM; cut-off for shareholders to vote
21 Oct 2026
Alkali Metals corrects DIN of Mr. Y. V. Prashanth in board meeting outcome
12 Oct 2026
Q2 FY27 results approved; Executive Director appointed; EGM notice cleared
12 Oct 2026
More numbers
- Basic pay proposed for Managing Director, per month₹ 9,07,500/-
- H.R.A proposed for Managing Director, per month₹ 3,02,500/-
- Commission on profits proposed for Managing Director5 %
- Basic pay proposed for Executive Director, per month₹ 6,67,000/-
- H.R.A proposed for Executive Director, per month₹1,66,500/-
- Medi-claim policy cover proposed₹ 5,00,000/-
- Accidental insurance cover proposed₹ 25,00,000/-
- Remuneration recovery sought to be waived for Executive DirectorRs 22,03,075
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