Allcargo Logistics Ltd Seeks Shareholder Approval for Reappointment of Independent Director
Allcargo Logistics Ltd announced that its Board of Directors has approved the re-appointment of Mr. Sivaraman Narayanaswami as an Independent Director for a second term. The company is seeking the consent of its shareholders for this reappointment through a Postal Ballot via remote e-voting.The Board's approval, passed via Circular Resolution on April 23, 2026, details the terms of the proposed reappointment and the administrative process required.
According to the details provided, the re-appointment of Mr. Sivaraman Narayanaswami (DIN: 00001747) is for a second term of one year. This tenure is set to commence from May 4, 2026, and conclude on May 3, 2027, inclusive, subject to the final approval of the Shareholders.
The reappointment initiative was based on the recommendation of the Governance and Nomination & Remuneration Committee of the Board.
Director Profile and Appointment Details
The company has also approved the draft Postal Ballot Notice and Calendar of Events. Furthermore, Mr. Dhrumil Shah (FCS 8021, CP No. 8978), Partner at Dhrumil M. Shah & Co. LLP, was appointed as the Scrutinizer to ensure the Postal Ballot process remains fair and transparent.Key details regarding the director and the appointment term are summarized below:
| Detail | Information |
|---|---|
| Name | Mr. Sivaraman Narayanaswami (DIN: 00001747) |
| Role | Independent Director |
| Reason for Change | Re-appointment of Mr. Sivaraman Narayanaswami as an Independent Director |
| Term of Reappointment | One year, commencing from May 4, 2026, to May 3, 2027 (both days inclusive), subject to Shareholders' approval. |
Mr. Sivaraman Narayanaswami brings over four decades of experience as a finance professional and organizational leader. Throughout his 43-year career, his expertise has spanned strategy, business planning, organization building, capital raising, mergers and acquisitions, and investor relations.
His professional background includes serving as the Managing Director and Group CEO at ICRA Limited. He was also involved in promoting 5E Finance Holdings Private Limited (5EF) to establish infrastructure project finance platforms. Additionally, he held senior positions, including President & Whole-time Director of L&T Finance Holdings Ltd. (LTFH) and as COO at IL&FS. His accomplishments highlight transforming and growing companies and platforms, providing leadership to generate differentiated outcomes.
The company confirmed that Mr. Sivaraman Narayanaswami is not related to any Director or Key Managerial Personnel of Allcargo Logistics Ltd.
ALLCARGO Stock Price Movement
Shares of Allcargo Logistics Limited are slipping by 3.12% in live trading as of 12:10 PM, currently at ₹9.00. The stock is shedding value on notable volume, with 2.48 million shares traded in the market so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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