Avadh Sugar & Energy Limited has announced a significant change in its leadership structure, following a recent shareholder vote. The company's shareholders have decisively approved the appointment of Mr. Chandra Shekhar Nopany as the new Managing Director and Co-Chairperson through a postal ballot process.

Voting Results

The special resolution for Mr. Nopany's appointment received overwhelming support, with 97.71% of votes cast in favor. Out of 208 participating members, 175 supported the proposal, while 33 opposed it. The total number of votes cast was 12,760,463, with 12,468,123 in favor and 292,340 against.

Appointment Details

Mr. Nopany's tenure as Managing Director is set to commence on September 1, 2025, and will run for a five-year term until August 31, 2030. This appointment marks a significant milestone for Avadh Sugar & Energy Limited, potentially bringing new leadership and strategic direction to the company.

Voting Process

The e-voting process for this resolution was conducted from August 14 to September 12, 2025. Notably, only 208 members participated in the voting out of a total shareholder base of 25,806, representing a participation rate of approximately 0.81%.

Scrutinizer's Report

Mr. Mohan Ram Goenka, a Practicing Company Secretary, served as the scrutinizer for the voting process. His report, submitted on September 12, 2025, confirmed the validity of the voting process and the passage of the resolution with the required majority.

Shareholder Category Breakdown

The voting results revealed interesting patterns across different shareholder categories:

This breakdown shows unanimous support from the promoter group, mixed reactions from public institutions, and strong support from public non-institutional shareholders.

Compliance and Disclosure

In compliance with regulatory requirements, Avadh Sugar & Energy Limited has made the voting results and the Scrutinizer's Report available on the company's website and the National Securities Depository Limited's e-voting platform. The company has also informed the National Stock Exchange of India Limited and BSE Ltd. about the results, maintaining transparency in its corporate governance processes.

The appointment of Mr. Chandra Shekhar Nopany as Managing Director and Co-Chairperson represents a significant development for Avadh Sugar & Energy Limited. Shareholders and market observers will likely be watching closely to see how this change in leadership might influence the company's future strategies and performance in the sugar and energy sectors.

Avadh Sugar & Energy Limited has initiated a postal ballot to seek shareholder approval for the appointment of Mr. Chandra Shekhar Nopany as Managing Director, designated as Co-Chairperson, for a five-year term starting September 1, 2025. This move marks a significant shift in the company's leadership structure, as Mr. Nopany transitions from his current role as a Non-Executive Director to a more hands-on executive position.

Key Details of the Proposed Appointment

• Term: Five years, from September 1, 2025, to August 31, 2030
• Remuneration:
  • Monthly salary of Rs. 25.00 lakh
  • Commission of 5% on net profits, subject to statutory limits
  • Additional benefits including furnished accommodation, medical reimbursements, and other perquisites

About Chandra Shekhar Nopany

Mr. Nopany, 59, brings a wealth of experience to the role:

• Qualifications: Chartered Accountant and M.S. in Industrial Administration from Carnegie Mellon University, USA
• Experience: Extensive industrial experience across sugar, tea, shipping, textiles, and fertilizers sectors
• Current Role: Non-Executive Director since July 2016
• Other Directorships: Holds board positions in eight other public companies, including Chambal Fertilisers and Chemicals Limited and Sutlej Textiles and Industries Limited

Voting Process

• E-voting Period: August 14, 2025, to September 12, 2025
• Eligibility: Shareholders on record as of August 8, 2025
• Method: Electronic voting only, facilitated by National Securities Depository Limited (NSDL)

Corporate Governance Implications

The proposed appointment requires approval through a special resolution. If approved, Mr. Nopany will not be liable to retire by rotation, ensuring leadership continuity for the stipulated five-year term.

Industry Context

This leadership change comes at a time when the sugar industry faces various challenges and opportunities. Mr. Nopany's extensive experience in the sector could prove valuable in navigating the company through evolving market dynamics.

Shareholders are encouraged to review the detailed postal ballot notice and cast their votes before the deadline. The outcome of this resolution could significantly impact Avadh Sugar & Energy's strategic direction in the coming years.