Manali Petrochemicals Limited Amends Postal Ballot Notice, Approving Key Director Reappointment and Remuneration Revisions
The Board of Directors of Manali Petrochemicals Limited amended its Notice of Postal Ballot by passing a resolution via circulation on June 25, 2026. The amendment includes several critical items concerning related party transactions, director appointments, and management remuneration reviews.The revised postal ballot notice addresses both an Ordinary Resolution and multiple Special Resolutions designed to seek shareholder approval for various corporate actions.
Among the items requiring shareholder review is the Ordinary Resolution, which pertains to seeking approval for Material Related Party Transactions and Material Modifications involving Wilson International Trading Private Limited, Singapore.
The company also seeks special resolutions addressing key operational and personnel matters:
- Director Reappointment: Approval is sought for the reappointment of Mr. T K Arun (DIN: 02163427) to serve as an Independent Director for a second term.
- Remuneration Revision (Managing Director & CEO): A resolution addresses the revision in remuneration for Mr. R Chandrasekar (who holds the position of Managing Director & CEO - MPL Group), effective from April 1, 2026.
- Remuneration Revision (Director): Another special resolution seeks approval for a revision in the remuneration of Mr. G R Sridhar (DIN: 10596912), who serves as Wholetime Director and Head of Plant Operations, also effective from April 1, 2026.
Manali Petrochemicals Limited indicated that the revised postal ballot notice will be dispatched in due course to shareholders.
MANALIPETC Stock Price Movement
Manali Petrochemicals Limited shares slipped on Thursday, shedding 3% to settle at ₹63.53 after trading against the previous close of ₹65.98. The stock saw heavy movement, with a total traded volume recorded at 268,590 shares during the session.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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