Shraddha Prime Projects Ltd announced the appointment of three directors, including the re-appointment of its Managing Director, following a postal ballot process concluded on July 8, 2026. Shareholders approved all three resolutions with a requisite majority, securing the company's leadership structure for the coming years.

The postal ballot sought approval for the appointment of Mr. Vinay Madhukar Nayak as a Non-executive Non-Independent Director, the re-appointment of Mr. Sudhir Balu Mehta as Managing Director for a further period of five years, and the re-appointment of Ms. Shivangi Datta as a Non-Executive Independent Woman Director for a second term. The voting process was conducted via remote e-voting through the National Securities Depository Limited (NSDL) platform from June 8, 2026, to July 7, 2026.

Ms. Neeta H. Desai of M/s ND & Associates, Practising Company Secretaries, served as the scrutinizer for the process. The report confirmed that the resolutions were passed with the necessary majority. The total votes polled for the resolutions showed strong support from the promoter group and public non-institutions.

The detailed voting results indicate that the resolutions were carried with a high percentage of votes in favour. The promoter and promoter group, holding 30,210,548 shares, voted entirely in favour of the resolutions for Mr. Nayak and Ms. Datta. Public non-institutions, holding 10,190,452 shares, also participated actively in the e-voting process.

Voting Results Summary

The company submitted the scrutinizer's report to the stock exchanges on July 8, 2026, confirming the completion of the postal ballot process. The approvals are effective immediately, ensuring continuity in the company's management and governance.

Shraddha Prime Projects Limited has submitted details to BSE regarding the newspaper publication of its postal ballot notice, which was published in the Financial Express and Prathkaal on June 7, 2026. The company seeks shareholder approval for the re-appointment of its Managing Director and an Independent Director, alongside the regularization of a Non-Executive Non-Independent Director. The e-voting period is open from June 8, 2026, to July 7, 2026, with results to be declared on or before July 8, 2026.

The Board has proposed the re-appointment of Mr. Sudhir Balu Mehta as Managing Director for a term of five years effective from August 7, 2026, to August 6, 2031. The re-appointment is subject to shareholder approval via a Special Resolution. Mr. Mehta, aged 52, has been with the company since August 2021 and is proposed to receive an annual remuneration of ₹1,80,00,000 inclusive of perquisites. His tenure includes provisions for minimum remuneration in the event of loss or inadequate profits.

Mrs. Shivangi Datta has been recommended for re-appointment as a Non-Executive Independent Director for a second term of five years, effective from August 7, 2026, to August 6, 2031. An accomplished Human Resource professional with over 14 years of experience, her re-appointment is also subject to the approval of shareholders through a Special Resolution. She abstained from the Board discussion regarding her re-appointment.

The Board has also sought approval to regularize the appointment of Mr. Vinay Madhukar Nayak as a Non-Executive Non-Independent Director. Mr. Nayak was initially appointed as an Additional Director on April 9, 2026, and holds a Master’s Degree in International Business from the University of Wales. Shareholders will vote on this appointment as an Ordinary Resolution.

To facilitate the postal ballot, the Board appointed Ms. Neeta H. Desai of M/s ND & Associates as the scrutinizer and engaged National Securities Depository Limited (NSDL) as the e-voting agency. The cut-off date for determining shareholder eligibility is June 5, 2026.

Key Director Appointments

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE311M01018/3f97eb2c-c594-4f9a-aa8e-d1928af1c151.pdf