Susan Electricals India Limited company name has scheduled an Extraordinary General Meeting (EGM) for September 3, 2026, at 3:00 P.M. (IST) to seek shareholder approval for its first Employee Stock Option Plan (ESOP) and to regularize the appointment of a new director. The meeting, to be conducted via Video Conferencing or Other Audio-Visual Means (VC/OAVM), is critical for aligning employee incentives with long-term shareholder value while strengthening the Board’s financial oversight capabilities. Shareholders holding shares as of the cut-off date of August 27, 2026, are eligible to vote electronically between August 31 and September 2, 2026.

The primary agenda item is the approval of the “Susan Electricals India Limited – Employee Stock Option Plan, 2026” (SEIL ESOP, 2026). Under this scheme, the company proposes to grant up to 2,04,000 equity shares, each with a face value of ₹10, to eligible employees. The plan is structured in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and Section 62(1)(b) of the Companies Act, 2013. Options will vest over a period of one to four years based on organizational performance metrics, with an exercise window of up to five years post-vesting. The exercise price will be determined by the Compensation Committee, bounded by the face value of ₹10 and the prevailing market price at the time of grant.

In addition to the ESOP, shareholders will vote to extend the benefits of the plan to employees of the company’s holding, subsidiary, associate, and group companies, without creating additional equity shares beyond the approved limit. A second key resolution involves the regularization of Charan Singh (DIN: 09238002) as a Non-Executive and Non-Independent Director. Mr. Singh, appointed as an Additional Director on August 7, 2026, brings over 37 years of experience in banking and finance, including roles as Executive Director at UCO Bank and Member (Technical) at the National Company Law Tribunal (NCLT), Hyderabad. His appointment aims to enhance corporate governance and financial oversight.

The EGM proceedings will be scrutinized by CS Deepak Chauhan. Members attending via VC/OAVM must join through the NSDL e-voting system, with login credentials available to those registered with their Depository Participants. The remote e-voting facility opens on August 31, 2026, at 9:00 A.M. (IST) and closes on September 2, 2026, at 5:00 P.M. (IST). Physical attendance is dispensed with in compliance with Ministry of Corporate Affairs circulars permitting virtual meetings. The results will be declared forthwith after the conclusion of voting and posted on the company’s website and stock exchange portals.

What the Numbers Show

The introduction of the SEIL ESOP, 2026 marks a strategic shift towards performance-linked compensation for Susan Electricals India Limited. By tying option vesting to key organizational performance metrics over a one-to-four-year horizon, the company is incentivizing long-term operational improvements rather than short-term gains. The cap of 2,04,000 shares represents a defined pool for retention and motivation, while the pricing mechanism—anchored between face value and market price—ensures fairness to existing shareholders. The simultaneous appointment of a director with deep banking and regulatory experience suggests a focus on strengthening corporate governance and financial oversight during this period of structural change. This combination of employee incentive alignment and enhanced board expertise positions the company for sustained growth and improved stakeholder trust.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE2L0V01019/5e1b85f4-da9d-489c-bd8e-f26c7b72ba6a.pdf

Susan Electricals has accepted the resignation of Manoj Kumar from the position of Non-Executive Director, effective from the close of business hours on August 5, 2026. The departure is attributed to personal reasons, with Kumar explicitly stating that his exit is not driven by any disagreement with the Board, management, or matters relating to the company’s affairs. Consequently, he also ceases to be a member of the Nomination and Remuneration Committee and the Stakeholders Relationship Committee as of the same date.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to BSE Limited by Reshma Shukla, Company Secretary & Compliance Officer, on August 5, 2026. The intimation aligns with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Resignation Details

Manoj Kumar (DIN: 08332775) tendered his resignation via email and a formal letter dated August 5, 2026. In his resignation letter addressed to the Board of Directors in New Delhi, Kumar clarified that there are no material reasons for his resignation other than the personal circumstances stated. He requested the Board to accept the resignation and file necessary forms with the Registrar of Companies, Stock Exchanges, and other regulatory authorities.

Regulatory Compliance

The company confirmed that the resignation letter enclosed with the filing contains detailed reasons and confirms the absence of any undisclosed material issues. Under Para A(7C) of Part A of Schedule III to the SEBI Listing Regulations, the company provided confirmation that there are no material reasons for resignation other than those explicitly stated in the resignation letter. Manoj Kumar does not hold any directorship or membership of Board Committees in any other listed entity as of the date of resignation.