Popular Vehicles Completes Independent Director Appointment via Postal Ballot
Popular Vehicles & Services Limited has completed the appointment of Mr. Murali Narayanan as Non-Executive Independent Director through a postal ballot process with overwhelming 99.99% shareholder approval. The technology leader brings extensive experience from multinational organizations including GSK and Dell Technologies, with expertise in AI, automation, and cloud strategy. The appointment is effective from December 29, 2025, for a five-year term.
*this image is generated using AI for illustrative purposes only.
Popular Vehicles & Services Limited , a prominent player in the automotive retail sector, has successfully completed the appointment of Mr. Murali Narayanan as an Independent Director through a postal ballot process, marking a significant milestone in the company's board restructuring efforts.
Postal Ballot Results
The company announced the completion of its postal ballot process with overwhelming shareholder support. The remote e-voting concluded on December 29, 2025, at 5:00 PM (IST), with the scrutinizer submitting the final report on December 30, 2025.
| Voting Category: | Shares Held | Votes Polled | Votes in Favour | Votes Against | Approval Rate |
|---|---|---|---|---|---|
| Promoter and Promoter Group: | 4,35,58,086 | 4,35,58,086 | 4,35,58,086 | 0 | 100.00% |
| Public Institutions: | 78,99,576 | 69,44,803 | 69,44,803 | 0 | 100.00% |
| Public Non-Institutions: | 1,97,40,536 | 71,42,313 | 71,39,879 | 2,434 | 99.97% |
| Total: | 7,11,98,198 | 5,76,45,202 | 5,76,42,768 | 2,434 | 99.99% |
Director Appointment Details
Mr. Murali Narayanan (DIN: 11356917) has been appointed as Non-Executive Independent Director effective December 29, 2025, for a period of five years. The appointment was approved through a special resolution via postal ballot, and the company confirmed that he is not disqualified from holding the office of Director pursuant to section 164 of the Companies Act, 2013.
| Appointment Details: | Information |
|---|---|
| Director Name: | Mr. Murali Narayanan |
| DIN: | 11356917 |
| Position: | Non-Executive Independent Director |
| Effective Date: | December 29, 2025 |
| Term: | 5 years |
| Relationship Status: | Not related to any Directors of the Company |
Director Profile and Expertise
Mr. Murali Narayanan brings extensive global experience as a seasoned technology leader with expertise in artificial intelligence, modern engineering, automation, and cloud strategy. He has held senior leadership roles in multinational organizations, including GSK and Dell Technologies, where he led large, diverse teams and delivered significant improvements in reliability, efficiency, and digital capability.
His professional background spans strategic technology adoption, operational excellence, and building resilient, AI-enabled enterprise environments. As a recognized innovator, he holds multiple patents and has contributed widely through research publications. As a Certified Independent Director, he combines strong governance perspective with deep technical insight and continues to advance his academic pursuits through ongoing research in data, artificial intelligence, and emerging technologies.
Regulatory Compliance
The postal ballot process was conducted in accordance with Regulation 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer, M.C. Sajumon (Membership No: A9868), a Practising Company Secretary, was appointed by the Board of Directors on November 10, 2025, to oversee the transparent voting process.
| Process Details: | Information |
|---|---|
| Notice Date: | November 27, 2025 |
| Voting Period: | November 30 - December 29, 2025 |
| Cut-off Date: | November 25, 2025 |
| E-voting Provider: | MUFG Intime India Private Limited |
| Total Participation: | 80.96% of outstanding shares |
| Company Secretary: | Varun T.V. (Membership No: A22044) |
Strategic Corporate Actions
The company has undertaken several strategic initiatives alongside the board restructuring:
| Initiative: | Details |
|---|---|
| ESOP Scheme: | Approved Employee Stock Option Scheme for eligible employees and subsidiaries |
| New Subsidiary: | Incorporation approved under Popular Mega Motors for luxury dealership brand |
| Divestment: | Completed sale of Kuttukaran Green Private Limited for Rs 20.00 million with Rs 11.57 million gain |
| Acquisition: | Acquired Maruti Suzuki dealership business from R.K.S Motor Private Limited for Rs 930.00 million |
Looking Forward
With the successful completion of the board restructuring and appointment of an experienced technology leader, Popular Vehicles & Services appears focused on strengthening its governance structure while leveraging digital transformation capabilities. The company's ability to secure overwhelming shareholder support for governance changes, combined with its strategic acquisitions and the new director's expertise in AI and modern engineering, positions it for potential operational improvements in the competitive automotive retail sector.
Historical Stock Returns for Popular Vehicles & Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.49% | -7.42% | -9.16% | -17.47% | -27.21% | -60.66% |
16
