Shalby AGM on Sep 10: Shanay Shah proposed as Whole-Time Director
Shalby Limited convenes its 22nd AGM on September 10, 2026, primarily to approve the appointment of Shanay Vikram Shah as Whole-Time Director for five years. The related-party transaction involves a maximum annual remuneration of ₹1.50 crore. Shareholders can vote electronically via NSDL between September 5 and September 9, 2026.
*this image is generated using AI for illustrative purposes only.
Shalby Limited will hold its 22nd Annual General Meeting (AGM) on Thursday, September 10, 2026, at 4:00 p.m. IST through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The meeting aims to transact ordinary business, including the adoption of audited financial statements for FY26, and special business centered on the appointment of Mr. Shanay Vikram Shah as a Whole-Time Director.
AGM Schedule and E-Voting Timeline
Shareholders holding shares as on the cut-off date of September 3, 2026, are eligible to vote electronically. The company has provided the facility for remote e-voting through the National Securities Depository Limited (NSDL). Chintan I Patel & Associates have been appointed as the Scrutinizer for the process.
| Parameter: | Details |
|---|---|
| AGM Date & Time: | Thursday, September 10, 2026 at 4:00 p.m. IST |
| Mode: | Video Conferencing (VC) / OAVM |
| Cut-off Date for E-Voting: | Thursday, September 3, 2026 |
| E-Voting Commencement: | Saturday, September 5, 2026 at 9:00 a.m. IST |
| E-Voting Conclusion: | Wednesday, September 9, 2026 at 5:00 p.m. IST |
| E-Voting Sequence Number (EVSN): | 140831 |
Members who wish to express views or ask questions during the AGM must register as speakers by sending an email to companysecretary@shalby.in from their registered email address by September 3, 2026. The registration must include their name, demat account number or folio number, and mobile number.
Agenda Items
The AGM will address the following ordinary and special business:
Ordinary Business
- Adoption of the Audited Standalone Financial Statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors.
- Adoption of the Audited Consolidated Financial Statements for the financial year ended March 31, 2026, along with the report of the Auditors.
Special Business
- Ratification of remuneration for M/s. S A & Associates, Cost Accountants, Ahmedabad (Firm Registration No. 000347), as Cost Auditors for FY27 at ₹1,10,000 plus applicable taxes and out-of-pocket expenses.
- Appointment of Mr. Shanay Vikram Shah (DIN: 02726541) as a Director, liable to retire by rotation.
- Appointment of Mr. Shanay Vikram Shah (DIN: 02726541) as Whole-Time Director for a term of five consecutive years, effective from August 12, 2026.
Proposed Appointment of Whole-Time Director
The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, appointed Mr. Shanay Vikram Shah as an Additional Director (Whole-Time Director) for five years, subject to shareholder approval at the AGM.
Mr. Shanay Vikram Shah, aged 35, holds a Bachelor's degree in Science with Honours in Accounting and Finance from the University of Warwick, UK, and a Master's degree in International Health Management from Imperial College London, UK. He is also a Chartered Financial Analyst (CFA). With over 13 years of experience in the healthcare industry since joining the company in October 2013, he has expertise in international business, strategy, financial operations, human resources, and investor relations. He holds 1,37,525 equity shares, representing 0.13% of the paid-up equity share capital.
Key Terms of Appointment
| Parameter: | Details |
|---|---|
| Designation: | Whole-Time Director |
| Tenure: | 5 consecutive years from August 12, 2026 |
| Remuneration: | Not exceeding ₹1.50 crore per annum |
| Termination Notice: | Six months' written notice by either party |
| Retirement: | Liable to retire by rotation |
Upon assuming the role of Whole-Time Director, Mr. Shanay Vikram Shah will cease to hold the office of President – International Business, and the associated remuneration will be discontinued effective August 12, 2026.
Related Party Disclosure
The appointment is classified as a related party transaction under Section 2(76) of the Companies Act, 2013, and Regulation 2(1)(zb) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as Mr. Shanay Vikram Shah is the son of Dr. Vikram Shah (DIN: 00011653), the Promoter and Chairman & Managing Director. Since the monthly remuneration exceeds ₹2,50,000, member approval by ordinary resolution is required under Section 188(1) of the Companies Act, 2013. The transaction is not deemed "material" under Regulation 23(1) of the SEBI Listing Regulations.
Book Closure and Other Details
The book closure period runs from Friday, September 4, 2026, to Thursday, September 10, 2026, inclusive. The Board has not recommended any dividend for FY26. The Annual Report for FY26 and the AGM Notice are available on the company's website and have been dispatched electronically to registered shareholders. For members without registered email addresses, individual letters containing the weblink to the Annual Report were sent in compliance with Regulation 36(1)(b) of the SEBI Listing Regulations.
Historical Stock Returns for Shalby
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.66% | -7.06% | -9.75% | -1.54% | -39.67% | -27.06% |
How might the transition of Mr. Shanay Vikram Shah to Whole-Time Director influence Shalby Limited's international expansion strategy and revenue growth projections?
What are the potential implications for the company's capital allocation strategy given the Board's decision not to recommend a dividend for FY26?
How will the appointment of a family member as a key executive impact corporate governance perceptions and minority shareholder confidence?
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