Kapil Kumar Jain appointed Director and Whole-Time Director for 3 years, without remuneration
Shareholders at the 46th AGM held on 30 September 2026 approved Mr. Kapil Kumar Jain (DIN: 00755228) as a Director (liable to retire by rotation) and as Whole-Time Director (Executive Director) for 3 years.
- Director Appointment
- Mr. Kapil Kumar Jain (DIN: 00755228) approved as Whole-Time Director for 3 years from 30 September 2026 to 29 September 2029
- Age and Experience
- Aged 76 years with about 40 years of experience in the iron and steel industry
- Shareholding
- Holds 2,32,000 equity shares, representing 4.69% of paid-up equity capital
- Remuneration
- Nil remuneration, only reimbursement of actual expenses
- Category
- Executive Director - Whole-Time Director from Promoter Group
What happened
The Members of the Company, at the 46th Annual General Meeting held on Wednesday, 30 September 2026, approved two items relating to Mr. Kapil Kumar Jain (DIN: 00755228).
- Ordinary Resolution: his appointment as a Director, regularising his earlier appointment as an Additional Director (Non-Executive, Non-Independent) with effect from 11 August 2026, liable to retire by rotation.
- Special Resolution: his appointment as Whole-Time Director for a period of three (3) years with effect from 30 September 2026 up to 29 September 2029, liable to retire by rotation, without any remuneration (save reimbursement of actual expenses).
The special resolution also carried approval under the first proviso to Section 196(3)(a) of the Companies Act, 2013, as he has attained the age of seventy years, and, by way of abundant caution, under Regulation 17(1A) of the Listing Regulations.
About the appointee
- Category: Executive Director - Whole-Time Director (Promoter Group).
- Aged 76 years, a Commerce graduate (B.Com.) with about 40 years of experience in the iron and steel industry, with knowledge of the Company's plant, product portfolio and customer base built over more than four decades.
- Shareholding in the Company: 2,32,000 equity shares, representing 4.69% of the paid-up equity share capital.
- Not related to any Director; he is a member of the promoter group.
- Directorships in other listed entities: NIL. Committee memberships in other listed entities: NIL.
- The Company confirms he is not debarred from holding the office of director by any order of SEBI or any other authority.
What it means for investors
Being a Whole-Time Director, he is also a Key Managerial Personnel under Sections 2(51) and 203 of the Companies Act, 2013. The change moves him from a non-executive role to an executive role on the Board at nil remuneration, so there is no added pay cost beyond reimbursement of actual expenses. The voting results under Regulation 44(3) along with the Scrutinizer's Report and the AGM proceedings are being submitted separately.
More numbers
- Term as Whole-Time Directorthree (3) years
- RemunerationNil
- Shareholding in the Company2,32,000 equity shares
- Shareholding as % of paid-up equity4.69%
- Age76 years
- Experience in iron and steel industryabout 40 years
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