BF Utilities Appoints Industry Veteran Madan Umakant Takale as Non-Executive Director
BF Utilities Limited has appointed Mr. Madan Umakant Takale as a Non-Executive, Non-Independent Director, effective May 29, 2025. The appointment received shareholder approval through a postal ballot process, with 99.42% of total valid votes in favor. Mr. Takale brings over 40 years of experience in the forging and automotive industries, along with degrees in Mechanical Engineering, Industrial and Systems Engineering, and an MBA. The company confirmed Mr. Takale is not related to any other Board member and is not debarred from holding a directorship by any regulatory authority.

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BF Utilities Limited has announced the appointment of Mr. Madan Umakant Takale as a Non-Executive, Non-Independent Director, effective May 29, 2025. The appointment, which was initially made by the board, has now received shareholder approval through a postal ballot process.
Shareholder Approval
The company conducted a postal ballot with e-voting from July 4 to August 2, 2025, during which shareholders voted on the ordinary resolution to appoint Mr. Takale. The results, as disclosed by BF Utilities, show overwhelming support for the appointment:
Category | Votes in Favor | Votes Against | % in Favor |
---|---|---|---|
Promoter and Promoter Group | 20,060,777 | 0 | 100.00% |
Public Institutions | 8,485 | 117,766 | 6.72% |
Public Non-Institutions | 133,360 | 953 | 99.29% |
Total | 20,202,622 | 118,719 | 99.42% |
The resolution passed with a significant majority, garnering 99.42% of the total valid votes cast.
About Madan Umakant Takale
Mr. Takale brings over four decades of experience in the forging and automotive industries to BF Utilities' board. His educational background includes:
- A degree in Mechanical Engineering
- An MS in Industrial and Systems Engineering from Columbia University, New York
- An MBA from Western Carolina University, North Carolina
His international exposure includes six years in the United States, where he gained valuable experience in the automotive industry and exposure to technological advancements in the field.
Board Composition and Compliance
BF Utilities has confirmed that Mr. Takale is not related to any other Director or Key Managerial Personnel on the company's Board. Furthermore, the company stated that he is not debarred from holding a directorship by any regulatory authority, ensuring compliance with corporate governance norms.
Company Statement
Pragati S. Rai, Company Secretary of BF Utilities Limited, stated in the regulatory filing, "The Members of the Company have duly approved the Ordinary Resolution embodied in the Postal Ballot Notice with requisite majority."
This appointment aligns with BF Utilities' strategy to strengthen its board with experienced industry professionals. Mr. Takale's extensive background in the forging and automotive sectors is expected to bring valuable insights to the company's operations and strategic decisions.
BF Utilities Limited, part of the Kalyani Group, continues to focus on enhancing its governance structure and bringing diverse expertise to its leadership team.
Historical Stock Returns for BF Utilities
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-2.17% | -0.89% | -14.30% | -9.31% | -7.34% | +192.08% |