Jindal Steel approves director appointments via postal ballot
Jindal Steel Limited secured shareholder approval for the appointment of Mr. Debojyoti Roy as Director and Wholetime Director, and the re-appointment of Mr. Damodar Mittal as Wholetime Director through a remote e-voting process. The resolutions passed with a strong majority, though Public-Institutions showed significant opposition to Mr. Mittal's re-appointment. The process complied with SEBI and Companies Act regulations.
*this image is generated using AI for illustrative purposes only.
Jindal Steel Limited shareholders have approved the appointment of Mr. Debojyoti Roy as Director and Wholetime Director, alongside the re-appointment of Mr. Damodar Mittal as Wholetime Director, via a remote e-voting process. The resolutions were passed with the requisite majority following the conclusion of the postal ballot on June 18, 2026.
The postal ballot was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 108 and 110 of the Companies Act, 2013. The remote e-voting facility was provided by Central Depository Services (India) Limited (CDSL), with the scrutinizer, CS Navneet Arora, submitting the report on June 19, 2026.
Voting Results Summary
The scrutinizer's report detailed the voting patterns for the three ordinary resolutions. A total of 2,82,242 shareholders were eligible to vote as on the record date of May 15, 2026.
| Resolution | Votes For | Votes Against | % For | % Against |
|---|---|---|---|---|
| Appointment of Mr. Debojyoti Roy as Director | 91,31,93,518 | 15,95,723 | 99.83% | 0.17% |
| Appointment of Mr. Debojyoti Roy as Wholetime Director | 91,40,34,077 | 7,52,114 | 99.92% | 0.08% |
| Re-appointment of Mr. Damodar Mittal as Wholetime Director | 84,78,37,157 | 6,69,52,059 | 92.68% | 7.32% |
Breakdown by Shareholder Category
The voting results revealed distinct patterns across different shareholder categories. For the re-appointment of Mr. Damodar Mittal, Public-Institutions cast 25.45% of their votes against the resolution, while Promoter and Promoter Group votes were entirely in favour.
| Category | Votes For (Mr. Mittal) | Votes Against (Mr. Mittal) | % For (Category) | % Against (Category) |
|---|---|---|---|---|
| Promoter and Promoter Group | 63,95,29,664 | 0 | 100.00% | 0.00% |
| Public-Institutions | 19,61,15,378 | 6,69,43,513 | 74.55% | 25.45% |
| Public-Non Institutions | 1,21,92,115 | 8,546 | 99.93% | 0.07% |
The notice for the postal ballot was dispatched to shareholders on May 19, 2026. The scrutinizer confirmed that all three ordinary resolutions were passed with the required majority and that the relevant records would be handed over to Mr. Rahul Arora, Company Secretary, for safekeeping.
Historical Stock Returns for Jindal Steel
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.51% | +1.46% | -7.64% | +15.39% | +27.27% | +192.96% |
What strategic priorities will Mr. Debojyoti Roy likely focus on following his unanimous appointment as Wholetime Director?
How will the significant opposition from Public-Institutions regarding Mr. Damodar Mittal's re-appointment influence the company's future governance policies?
What impact will these leadership changes have on Jindal Steel's operational performance and expansion plans in the coming fiscal year?
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