MPDL Limited seeks shareholder approval for Santosh Jha's remuneration
MPDL Limited has initiated a postal ballot to approve the remuneration of Whole Time Director Mr. Santosh Kumar Jha, effective February 24, 2026. The proposed package totals ₹1,85,428 per month, requiring shareholder approval via e-voting due to the company's reported net loss of ₹650.04 lakh in FY 2025-26.
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MPDL Limited has initiated a postal ballot process to seek shareholder approval for the remuneration of Whole Time Director Mr. Santosh Kumar Jha. The proposed remuneration, effective from February 24, 2026, totals ₹1,85,428 per month and requires approval through an ordinary resolution via remote e-voting. The company reported a net loss of ₹650.04 lakh for the financial year 2025-26, necessitating member consent under Schedule V of the Companies Act, 2013 to pay the remuneration as minimum remuneration during the period of inadequate profits.
The Board of Directors approved the remuneration structure at its meeting held on May 29, 2026, based on the recommendation of the Nomination and Remuneration Committee. Mr. Santosh Kumar Jha (DIN: 10052694) was initially appointed as Whole Time Director on February 24, 2023, for a five-year term. The new remuneration package is intended to cover the remainder of his tenure.
Proposed Remuneration Structure
The remuneration is divided into salary and perquisites. The gross monthly salary includes basic salary, house rent allowance, conveyance, medical allowance, and a special allowance.
| Factors | Amount (₹ per month) |
|---|---|
| Basic Salary | 1,01,222 |
| House Rent Allowance | 50,611 |
| Conveyance Allowance | 2,000 |
| Medical Allowance | 1,250 |
| Special Allowance | 30,345 |
| Total Gross Salary | 1,85,428 |
In addition to the salary, Mr. Jha is entitled to perquisites including gratuity, provident fund, mediclaim policy, telephone expenses, and earned leave as per company policy. He will not be entitled to any sitting fees for attending board or committee meetings. The resolution also authorizes the board to alter the remuneration within the limits prescribed under the Companies Act, 2013.
Financial Context and Voting Details
The explanatory statement highlights that the company's effective capital as on March 31, 2026, was ₹58.36 crore. The proposed annual remuneration of ₹22.25 lakh is within the limits prescribed under Section II of Part II of Schedule V of the Companies Act, 2013. For FY 2025-26, the company reported a total income of ₹2144.67 lakh against a total expenditure of ₹3012.90 lakh, resulting in a net loss of ₹650.04 lakh.
The remote e-voting process is open from Tuesday, June 30, 2026 (9:00 A.M. IST) to Wednesday, July 29, 2026 (5:00 P.M. IST). Shareholders whose names appear in the Register of Members as on the cut-off date of Friday, June 19, 2026, are eligible to vote. The results of the postal ballot will be announced on or before Friday, July 31, 2026. M/s Sanjay Grover & Associates has been appointed as the scrutinizer for the process.
Historical Stock Returns for MPDL
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.97% | -8.50% | -18.38% | -27.91% | -38.19% | +160.50% |
How will shareholders react to the remuneration proposal given the company's reported net loss of ₹650.04 lakh for FY 2025-26?
What strategic turnaround plans does MPDL Limited have to address the financial inadequacy that triggered the need for Schedule V compliance?
Will the approval of this remuneration set a precedent for future executive compensation during periods of financial underperformance?
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