Board meet on October 19 for 12.5% Executive Director remuneration increase and Postal Ballot Notice

Board meeting on Monday, October 19, 2026.

Mon 12 Oct 2026

Board Meeting Date

Monday, October 19, 2026

Remuneration Increase

12.5% increase in the remuneration of Sh. Arun Mitter, Whole Time Director designated as Executive Director

Effective Date

effective from August 1, 2026

The company has informed BSE and NSE that a meeting of its Board of Directors will be held on Monday, October 19, 2026.

What the Board will take up

• To approve an increase by 12.5% in the remuneration of Sh. Arun Mitter, Whole Time Director designated as Executive Director of the company, with effect from August 1, 2026.
• The Nomination & Remuneration Committee has already approved this increase in his remuneration and recommended it to the Board for consideration.

What members will be asked to vote on

• A Special Resolution regarding the increase in remuneration by 12.5% of Sh. Arun Mitter, Executive Director, under Section 197, 198, 200 and 203 and other applicable provisions of the Companies Act, 2013, read with Schedule V to the Companies Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 17(6)(e) of SEBI (LODR) Regulations, 2015.
• The resolution is to be passed through Postal Ballot by the members through remote e-voting, to be effective from August 1, 2026.

Postal ballot process

• M/s Anjali Yadav & Associates, Practising Company Secretaries, to be appointed as Scrutinizer for conducting the e-voting process.
• CDSL to be appointed for conducting the remote e-voting process.
• M/s Alankit Assignments Ltd, Registrar and Share Transfer Agent (RTA), to be appointed for conducting the remote e-voting.

Points a retail investor may note

• The Board meeting is for approving the remuneration increase and the Postal Ballot Notice; the remuneration change is proposed to take effect from August 1, 2026.
• Because the increase is being routed through a Special Resolution, it will require the approval of members through the postal ballot and remote e-voting process described above.
• The appointment of the scrutinizer, the e-voting agency and the RTA are the procedural steps needed to run that postal ballot.
• The update does not quantify the remuneration in rupee terms; it states the change as a 12.5% increase.

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