Krishnan's appointment as Managing Director not effective after e-voting glitch at 39th AGM

Standard Capital Markets said Mr. Krishnan's appointment as Managing Director, and his re-designation from Executive Director to MD, has not become effective.

Thu 1 Oct 2026

Director DIN

07034128

AGM Details

39th Annual General Meeting held on September 29, 2026

Scrutiniser Report Date

September 30, 2026

Affected Agenda Item

Item No. 6

Proposed Effective Date

September 30, 2026

Standard Capital Markets has informed the exchanges that the appointment of Mr. Krishnan (DIN: 07034128) as Managing Director, and his re-designation from Executive Director to Managing Director, has not become effective.

The company had earlier disclosed on September 07, 2026 the plan to appoint him as Managing Director and change his designation with effect from September 30, 2026, subject to shareholders' approval and other approvals.

What happened

• The proposal was placed before shareholders for approval at the 39th Annual General Meeting of the company held on September 29, 2026.
• Based on the Scrutiniser Report dated September 30, 2026, a technical glitch in the electronic voting facility meant shareholders were unable to cast their votes on that agenda item (Item No. 6).
• As a result, the voting process on that item could not be conducted effectively and the requisite shareholders' approval could not be obtained.
• Accordingly, the appointment of Mr. Krishnan as Managing Director and his re-designation from Executive Director to Managing Director has not become effective.

What the company says will happen next

• The Board of Directors will consider the matter at its ensuing Board Meeting.
• Subject to applicable provisions, the proposal for appointment/re-designation of Mr. Krishnan as Managing Director will be placed before the shareholders for their approval at the next General Meeting of the company.
• Pending such approval, Mr. Krishnan continues to hold the office and designation of Executive Director of the company.

What this means in simple terms

• A senior management change that was announced earlier did not get the shareholders' go-ahead because of a problem in the electronic voting facility at the AGM, affecting one agenda item.
• The company's leadership position today is unchanged from what it was before the proposal: Mr. Krishnan remains Executive Director.
• The elevation to Managing Director is not effective for now; the same proposal is to be brought back to shareholders at a later General Meeting, after the Board takes it up.

In short, the intended promotion of Mr. Krishnan to Managing Director is on hold, the company attributes it to a technical issue in the e-voting process at the AGM, and the matter is to be taken up again by the Board and then by shareholders.

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