Nava Limited Shareholders Approve Special Resolution Through Postal Ballot

Nava Limited has successfully concluded its postal ballot process, with shareholders approving a special resolution regarding a key management appointment. The company announced the voting results on December 15, 2025, demonstrating strong shareholder support for the proposed resolution.

Postal Ballot Results Overview

The postal ballot, conducted through remote e-voting, addressed one special resolution concerning the re-designation of Mr. Ashwin Devineni as Vice Chairman of Nava Global Pte. Limited (NGPL). The voting process was conducted from November 15, 2025, to December 14, 2025.

Voting Details:	Results
Total Shares Voted:	1,19,24,95,34
Votes in Favor:	1,19,04,65,17 (99.83%)
Votes Against:	2,03,017 (0.17%)
Voting Percentage:	42.14% of outstanding shares
Resolution Status:	Passed

Category-wise Voting Pattern

The voting results showed broad-based support across different shareholder categories:

Shareholder Category:	Shares Voted	Percentage in Favor
Promoter and Promoter Group:	5,12,70,480	100.00%
Public Institutions:	2,84,46,032	99.29%
Public Non-Institutions:	3,95,33,022	99.996%

Regulatory Compliance and Process

The postal ballot was conducted under the supervision of D. Renuka, Practicing Company Secretary (ACS 11963), who served as the scrutinizer for the process. The voting was facilitated through NSDL's remote e-voting platform, ensuring wider participation of shareholders.

The company complied with all regulatory requirements under Section 110 of the Companies Act, 2013, and the SEBI Listing Regulations. The postal ballot notice was circulated electronically to shareholders whose names appeared on the register as of November 7, 2025, which served as the cut-off date.

Strategic Implications

The overwhelming approval of the special resolution, with 99.83% votes in favor, reflects strong shareholder confidence in the company's leadership decisions. The re-designation of Mr. Ashwin Devineni as Vice Chairman of Nava Global Pte. Limited represents a strategic organizational move within the company's international operations structure.

The high participation rate of 42.14% of outstanding shares in the postal ballot indicates active shareholder engagement in the company's governance matters. This level of participation and approval strengthens the management's mandate to execute its strategic initiatives.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.74%	-1.36%	+11.26%	-1.44%	+13.37%	+1,954.74%

Nava Limited , a prominent Indian company, has initiated a postal ballot process to seek shareholder approval for the re-designation of Ashwin Devineni as Vice Chairman of its wholly-owned Singapore subsidiary, Nava Global Pte. Ltd. (NGPL). This strategic move, set to take effect from November 8, 2025, marks a significant shift in the company's global leadership structure.

Key Details of the Re-designation

Current Position: Ashwin Devineni is presently the Managing Director of both Nava Limited and NGPL.
New Role: Director & Vice Chairman of NGPL (designated as Vice Chairman).
Effective Date: November 8, 2025.
Term: Until March 31, 2029.

Remuneration and Terms

The re-designation comes with no changes to Mr. Devineni's existing remuneration package, which includes:

Component	Details
Annual Salary	USD 2,203,235.00 (net of taxes)
Additional Benefits	Reimbursement of medical insurance premium for self and family
Commission	5% of NGPL's profits

Rationale for the Change

The re-designation reflects a strategic shift in Mr. Devineni's role:

Transition from operational management to strategic oversight.
Focus on long-term strategic guidance for NGPL.
Emphasis on governance and policy formulation for the subsidiary.
Support and guidance for the senior leadership team, including the acting CEO & CFO and COO.

Shareholder Approval Process

Nava Limited has initiated a postal ballot for this re-designation:

E-voting Period: November 15 to December 14, 2025.
Result Declaration: Expected by December 16, 2025.

Corporate Governance Implications

This move is considered a related party transaction under Section 188 of the Companies Act, 2013, as Mr. Devineni is a key managerial person of Nava Limited and related to other board members. The re-designation has been reviewed and recommended by the Nomination and Remuneration Committee and approved by the Audit Committee and the Board of Nava Limited.

Company's Perspective

Nava Limited views this re-designation as a step towards strengthening its global governance framework and aligning management hierarchy with future growth and succession planning. The company expects this change to enhance strategic oversight of its international businesses.

Shareholders will play a crucial role in this corporate action, with their votes determining the approval of this significant leadership transition in Nava Limited's global operations.