Sunlite Recycling appoints three directors via postal ballot
Sunlite Recycling Industries Limited secured shareholder approval to appoint three directors via a postal ballot that concluded on 29 May 2026. The resolutions appointed Mr. Akshaykumar Heda as Chairman, Mr. Manish Heda as Executive Director, and Ms. Krisa Shah as Independent Director, with each passing with over 99.9% of the votes cast.
*this image is generated using AI for illustrative purposes only.
Sunlite Recycling Industries Limited announced that its shareholders have approved the regularization and appointment of three directors through a postal ballot process concluded on 29 May 2026. The resolutions sought approval for Mr. Akshaykumar Heda as Chairman and Non-Executive Director, Mr. Manish Heda as Executive Director, and Ms. Krisa Shah as Non-Executive Independent Director.
The postal ballot notice was dispatched on 28 April 2026 to shareholders whose names appeared on the register of members as on the cut-off date of 24 April 2026. The remote e-voting period was open from 30 April 2026 to 29 May 2026. Murtuza Mandorwala of Murtuza Mandorwala & Associates served as the scrutinizer for the process.
Voting Results Summary
All three resolutions received the requisite majority from shareholders. The total number of valid votes cast stood at 7,876,986 shares, representing 57.06% of the total outstanding shares. The detailed voting patterns for each resolution are outlined below.
Resolution 1: Appointment of Akshaykumar Heda
The ordinary resolution for the regularization and appointment of Mr. Akshaykumar Heda (DIN: 09715674) as Chairman and Non-Executive Director was passed with 99.98% of the valid votes in favor.
| Voting Category | Votes In Favor | Votes Against | % In Favor | % Against |
|---|---|---|---|---|
| Promoter and Promoter Group | 7,680,186 | 0 | 100 | 0 |
| Public - Non Institutions | 195,600 | 1,200 | 99.39 | 0.61 |
| Total | 7,875,786 | 1,200 | 99.98 | 0.02 |
Resolution 2: Appointment of Manish Heda
The special resolution regarding the regularization and appointment of Mr. Manish Heda (DIN: 09715675) as Executive Director, along with the approval of his remuneration, was approved with 99.98% of the valid votes in favor.
| Voting Category | Votes In Favor | Votes Against | % In Favor | % Against |
|---|---|---|---|---|
| Promoter and Promoter Group | 7,680,186 | 0 | 100 | 0 |
| Public - Non Institutions | 195,600 | 1,200 | 99.39 | 0.61 |
| Total | 7,875,786 | 1,200 | 99.98 | 0.02 |
Resolution 3: Appointment of Krisa Shah
The special resolution for the regularization and appointment of Ms. Krisa Shah (DIN: 10377008) as Non-Executive Independent Director was passed with 99.98% of the valid votes in favor.
| Voting Category | Votes In Favor | Votes Against | % In Favor | % Against |
|---|---|---|---|---|
| Promoter and Promoter Group | 7,680,186 | 0 | 100 | 0 |
| Public - Non Institutions | 195,600 | 1,200 | 99.39 | 0.61 |
| Total | 7,875,786 | 1,200 | 99.98 | 0.02 |
The scrutinizer's report confirmed that the votes were unblocked on 29 May 2026 in the presence of witnesses. The company disclosed that the promoter and promoter group were interested in the resolutions for Mr. Akshaykumar Heda and Mr. Manish Heda, while they were not interested in the resolution for Ms. Krisa Shah.
Historical Stock Returns for Sunlite Recycling Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.31% | +18.90% | +0.78% | +76.26% | +185.37% | +128.69% |
What strategic shifts or new initiatives does Sunlite Recycling plan to pursue under the leadership of the newly appointed Chairman and Executive Director?
How will the regularization of these director appointments impact the company's governance compliance and relationship with regulatory bodies?
What specific remuneration package was approved for Mr. Manish Heda, and how does it align with industry standards for Executive Directors?
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