Shah Foods Ltd Seeks Members' Approval for Name Change, Key Appointments and Strategic Office Shift

Shah Foods Ltd Seeks Members' Approval for Name Change, Key Appointments and Strategic Office Shift​

Shah Foods Ltd has commenced a significant restructuring process, seeking approval from its members through a Postal Ballot concerning major corporate changes, executive appointments, and strategic shifts. The company, which is undergoing a transformation into a new line of business, introduced the resolutions on July 18, 2026, with the remote e-voting period scheduled to run from Sunday, July 19, 2026, until Monday, August 17, 2026.

The proposed agenda items before the members cover the appointment of several directors and senior management personnel, as well as approvals for strategic corporate actions including a name change and relocation of the registered office.

New Leadership and Governance Appointments​

Multiple resolutions were placed before shareholders concerning key appointments within the company, effective from July 8, 2026. The appointments include:

• Chairman and Managing Director: Mr. Anuj Jalan (DIN: 02525506) was appointed as Chairman and Managing Director for a term of three years. The resolution allowed for his remuneration to not exceed Rs. 2,00,00,000/- per year in case the company has profits or inadequate profit.
• Executive Directors: Mr. Raj Kumar Jalan (DIN: 07875364) was appointed as Executive Director, with a proposed maximum salary limit of Rs. 1,50,00,000/- per year.
• Non-Independent Non-Executive Director: Mr. Daivik Jalan (DIN: 10808174) was appointed and his remuneration was capped at up to Rs. 90,00,000/- per year.
• Independent Directors: Ms. Pragati Goel (DIN: 10447667), Mr. Giri Raj Parashar (DIN: 10491076), and Mr. Shivam Gupta (DIN: 07690975) were appointed as Independent Non-Executive Directors for a term of five years, effective from July 8, 2026.

Strategic Business Shifts and Approvals​

The Postal Ballot also seeks approval for fundamental changes regarding the company's identity and operations.

Name Change: A Special Resolution is proposed to change the name of Shah Foods Limited to Tandhan Energies Limited, aligning with the transition into a new line of business. The Board provided documentation confirming that the investment in the new activity/project—Tandhan Power Technologies Private Limited (a wholly owned subsidiary)—amounting to Rs. 1,73,58,14,789.50 is more than fifty percent of the company’s total assets as on March 31, 2026, which stood at Rs. 1,78,74,66,124.97.

Office Relocation: Members are asked to approve the shift of the Registered Office from the State of Gujarat to the State of West Bengal, a move designed to capitalize on business opportunities in the new state.

Related Party Transactions and Loans: Two major resolutions seek member approval:
1. A Special Resolution seeking authorization for advancing loans or providing guarantees up to an aggregate sum of 500 crores (Rupees Five Hundred Crores only) to Entities that are Subsidiaries, Associates, or Group entities of the company.
2. An Ordinary Resolution proposing a Material Related Party Transaction with Tandhan Power Technologies Private Limited, a wholly owned Subsidiary, for a period of one year, capped at Rs. 500 Crore per transaction during the financial year 2026-27.

E-Voting and Results Timeline​

The Postal Ballot Notice clarified that members who have registered their email addresses are being communicated with electronically, as no physical copies are being dispatched. The Board of Directors appointed M/s MR & Associates as the Scrutinizer to conduct the process.

The company expects the results of the Postal Ballot to be declared within two working days following the conclusion of the remote e-Voting period.

Key appointments and financial metrics related to the company were detailed in the Explanatory Statement provided to members.

Stock Price Movement​

Shah Foods Ltd settled at ₹383.95 on Friday, edging higher by 1.97%. The shares traded within a narrow intraday range, moving between a low of ₹383.95 and a high of ₹384.05.