Forbes Precision Tools & Machine Parts Ltd shareholders have approved two special resolutions through postal ballot, including the re-appointment of Managing Director M.C. Tahilyani for a further three-year term.

The resolutions were deemed passed on October 3, 2026, following the conclusion of remote e-voting. The approvals cover the re-appointment of Mr. Tahilyani along with his remuneration, and the payment of commission to Non-Executive Directors.

Voting results overview

The company disclosed detailed voting outcomes in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The promoter group, holding 38,102,764 shares, voted unanimously in favor of both resolutions. Public institutional investors held 5,154,341 shares but had minimal participation, with only 891 votes cast in each case.

Public non-institutional investors held 8,337,359 shares. Their participation varied significantly between the two items, reflecting differing levels of dissent among retail shareholders.

Resolution details

The first resolution sought approval for the re-appointment of Mr. M.C. Tahilyani as Managing Director for a further period of three years and the approval of his remuneration. This resolution received overwhelming support, with 99.9273% of valid votes cast in favor.

The second resolution concerned the payment of commission to Non-Executive Directors. While also passed, it faced slightly higher dissent from public non-institutional shareholders compared to the MD re-appointment.

What the numbers show

A divergence in voting patterns is evident when comparing the two resolutions. For the MD re-appointment, public non-institutional shareholders voted 64.21% in favor and 35.79% against. However, for the payment of commission to Non-Executive Directors, the same category voted only 47.26% in favor and 52.74% against.

This indicates that while retail shareholders largely supported the leadership continuity provided by Mr. Tahilyani's re-appointment, they were more skeptical about the remuneration structure for non-executive directors. Despite this dissent, the massive voting power of the promoter group, which voted 100% in favor on both counts, ensured the passage of both special resolutions with a requisite majority exceeding 75%.

Forbes Precision Tools & Machine Parts has issued a postal ballot notice seeking shareholder approval for the re-appointment of M.C. Tahilyani as Managing Director and payment of commission to independent directors. The company published the notice in newspapers on September 4, 2026.

The voting period for the special resolutions commences on September 4, 2026, at 9:00 am and concludes on October 3, 2026, at 5:00 pm. Shareholders holding shares as of the cut-off date of August 28, 2026, are eligible to cast their votes through remote e-voting facilitated by National Securities Depository Limited (NSDL).

Leadership Continuity

The Board recommends the re-appointment of Mr. Tahilyani for a further term of three years, effective from April 1, 2027, to March 31, 2030. He currently serves as the Managing Director and Key Managerial Personnel of the company.

Mr. Tahilyani holds a Bachelor of Commerce degree and is a Chartered Accountant, Associate Company Secretary, and Chartered Management Accountant. He brings over 40 years of experience in finance, strategy, and general management. During FY26, his remuneration was ₹508 lakh. He holds 7,531 equity shares in the company, representing 0.02% of the paid-up capital.

Proposed Remuneration Structure

The proposed remuneration framework for the new tenure includes:

The Board retains the authority to review and revise remuneration within this approved framework based on recommendations from the Nomination and Remuneration Committee.

Independent Director Commission

Shareholders will also decide on paying commission to five independent directors: Marzin R. Shroff, D. Sivanandhan, Jai L. Mavani, Rani A. Jadhav, and Nikhil Bhatia. The proposal allows for an aggregate commission not exceeding 1% of net profits per annum.

For the relevant financial year, the board proposes a commission of ₹25 lakh to each independent director, totaling ₹1.25 crore. In the event of no profits or inadequate profits, the company may pay up to ₹1.25 crore in aggregate as minimum remuneration under Schedule V of the Companies Act, 2013.

Voting Process

In compliance with Ministry of Corporate Affairs circulars, the notice is being sent electronically only. Physical copies are not being dispatched. Members must ensure their PAN and bank details are updated with their depository participants to facilitate smooth voting. The scrutinizer appointed for the process is Harshvardhan Tarkas, a practicing company secretary.