AccelerateBS shareholders approve director pay hikes and borrowing powers

AccelerateBS India Limited shareholders have approved the revision of remuneration for its top executives and granted the Board expanded financial powers through a postal ballot that concluded on June 28, 2026. The resolutions, passed via special resolution, authorize the company to revise the pay of four directors, including Chairman and Managing Director Mr. Kunal Arvind Shah, and permit the Board to borrow funds and dispose of undertakings. The voting results were submitted to BSE Limited on June 30, 2026, by Jigyasha Jain, Company Secretary and Compliance Officer.

The postal ballot sought shareholder approval for seven items. The first four resolutions concerned the revision of remuneration for Mr. Kunal Arvind Shah, Mr. Keyur Dipakkumar Shah (Whole-time Director), Ms. Ami Keyur Shah (Executive Director and CFO), and Ms. Ishani Kunal Shah (Executive Director and Solution Architect). The remaining resolutions authorized the Board to borrow money under Section 180(1)(c) of the Companies Act, 2013, sell or otherwise dispose of the company's undertaking under Section 180(1)(a), and provide loans, guarantees, or investments exceeding prescribed limits under Section 186.

Vikas Raju Varma, a Practicing Company Secretary appointed as the Scrutinizer, reported that the remote e-voting period commenced on May 30, 2026, and ended on June 28, 2026. A total of 3,438,080 shares were eligible for voting as on the cut-off date of May 22, 2026. The Scrutinizer's report confirmed that all resolutions were passed with the required majority, with votes cast in favour ranging from 99.61% to 99.90% of the valid votes polled.

The detailed voting outcomes show strong support for the management's proposals. The resolution to revise the remuneration of Mr. Kunal Arvind Shah received 1,262,080 votes in favour, representing 99.80% of valid votes, while the resolution for Mr. Keyur Dipakkumar Shah secured 1,266,560 votes in favour, also 99.80%. Resolutions regarding the remuneration of Ms. Ami Keyur Shah and Ms. Ishani Kunal Shah each received 2,476,480 votes in favour, accounting for 99.90% of the valid votes.

Voting Summary

Resolution Description	Votes In Favour	Votes Against	% In Favour
Remuneration: Mr. Kunal Arvind Shah	1,262,080	2,560	99.80
Remuneration: Mr. Keyur Dipakkumar Shah	1,266,560	2,560	99.80
Remuneration: Ms. Ami Keyur Shah	2,476,480	2,560	99.90
Remuneration: Ms. Ishani Kunal Shah	2,476,480	2,560	99.90
Borrow Money (Section 180)	2,478,080	2,560	99.90
Dispose Undertaking (Section 180)	2,478,080	2,560	99.90
Loans, Guarantees, Investments (Section 186)	2,471,040	9,600	99.61

The authorizations to borrow money and dispose of undertakings received 2,478,080 votes in favour each, with 99.90% approval. The resolution to authorize loans, guarantees, and investments in excess of limits passed with 2,471,040 votes in favour (99.61%) against 9,600 votes (0.39%). The detailed results have been posted on the company's website and the National Securities Depository Limited e-voting portal.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	+7.41%	-20.85%	+23.50%	+1.32%	+39.16%

AccelerateBS India Limited has announced a postal ballot to seek shareholder approval for revising the remuneration of its senior management and increasing its financial powers. The remote e-voting period commences on May 30, 2026, and concludes on June 28, 2026, with a cut-off date of May 22, 2026, for shareholder eligibility. The company has published the notice in newspapers, including Business Standard and Pratahkal Marathi, on May 30, 2026, pursuant to Regulation 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board proposes to increase the basic salary for Mr. Kunal Arvind Shah, Chairman and Managing Director, and Mr. Keyur Dipakkumar Shah, Whole-time Director, from INR 55,00,000 to INR 65,00,000 per annum for the period from April 01, 2026, to December 29, 2027. Additionally, the Board seeks approval to raise the basic salary for Ms. Ami Keyur Shah, Executive Director and Chief Financial Officer, and Ms. Ishani Kunal Shah, Executive Director and Solution Architect, from INR 55,00,000 to INR 65,00,000 per annum for the financial years 2026-27 and 2027-28. For all four directors, the proposal includes increasing Performance Pay to an amount not exceeding 300% of the annual basic salary.

Financial Resolutions

Beyond remuneration, the company has placed three special resolutions before shareholders to expand its financial flexibility. These measures are intended to support existing and future financial requirements and strategic growth opportunities.

Resolution	Purpose	Limit
Borrowing Powers	To borrow monies from banks, financial institutions, or lenders	INR 60,00,00,000 outstanding at any point in time
Asset Disposal	To sell, lease, or dispose of undertakings to secure borrowings	INR 60,00,00,000 secured by assets
Loans and Investments	To provide loans, guarantees, or acquire securities	INR 60,00,00,000 outstanding at any point in time

The proposed limits for borrowing and loans exceed the aggregate of the company's paid-up capital, free reserves, and securities premium, necessitating shareholder approval under Sections 180 and 186 of the Companies Act, 2013. The previous limit for loans and investments was INR 25,00,00,000.

Voting and Scrutiny

Mr. Vikas Raju Varma, Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the fair conduct of the postal ballot. The results of the voting will be announced on or before June 30, 2026, and displayed on the company's website and the National Securities Depository Limited (NSDL) portal. The resolutions, if passed, will be deemed effective as of June 28, 2026.

Ms. Jigyasha Jain, Company Secretary and Compliance Officer, confirmed that the company is not in default of payments to any banks or public financial institutions. The explanatory statement notes that the company made strategic investments during the financial year 2025-26 to support long-term growth, which impacted current profitability.