Zuari Agro Chemicals Shareholders Approve Appointments of New Managing Director and Non-Executive Director
Zuari Agro Chemicals Limited has received shareholder approval for two key resolutions concerning board appointments, with members ratifying the appointment of Mr. Nitin M Kantak as Managing Director and Mr. Pramod Kumar Gupta as a Non-Executive Non-Independent Director. The company provided the voting results following its Postal Ballot conducted through remote e-voting.The outcomes confirm that both resolutions passed, securing the necessary shareholder assent for the management changes.
MD Appointment Resolution Details
The Special Resolution regarding the appointment of Mr. Nitin M Kantak (DIN: 08029847) as Managing Director and approval of his remuneration was put to vote. The voting results indicated strong support for the resolution. Of the total number of valid votes cast, the resolution received 2,75,57,252 votes in favour, representing a percentage of 98.77%. Conversely, 3,42,524 votes were cast against the resolution, amounting to 1.23% of the valid votes.
Director Appointment Resolution Details
Regarding the Ordinary Resolution for the appointment of Mr. Pramod Kumar Gupta (DIN: 00064041) as a Non-Executive Non-Independent Director, the voting results showed broad support. The resolution secured 2,78,29,429 votes in favour, translating to 99.75% of the total valid votes cast. Only 70,347 votes were recorded against the appointment, or 0.25%.
Voting Summary
The detailed voting results across different shareholder categories for both resolutions are summarized below:
| Resolution | Shareholder Group | Votes in Favour | % in Favour | Votes Against | % Against |
|---|---|---|---|---|---|
| MD Appointment | Promoter and Promoter Group | 27,42,4960 | 100.00% | 0 | 0.00% |
| Public Institutions | 38.76% of total votes | - | 34,1121 | 16.65% | |
| Director Appointment | Promoter and Promoter Group | 27,42,4960 | 100.00% | 0 | 0.00% |
| Public Institutions | 38.76% of total votes | - | 31,426 | 92.32% |
Submission of Scrutinizer's Report
In a subsequent submission, the company provided the complete Scrutinizer's Report related to the Postal Ballot held on July 23, 2026. The management clarified that the resubmission was necessary due to two pages of the Scrutinizer's Report having been inadvertently omitted from the initial filing. The company confirmed that there is no change in either the voting results or the outcome of the resolutions as previously reported.
ZUARI Stock Price Movement
As of 12:42 PM, Zuari Agro Chemicals Limited shares rally up, climbing ₹2.80 or 1.27% and trading at ₹222.66. The stock currently remains active within its intraday range, having seen a low as low as ₹220.36 against a high of ₹227.23.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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