Hitech Corporation Limited Issues Postal Ballot Notice for Director Re-appointment
Hitech Corporation Limited has issued a postal ballot notice seeking shareholder approval for Mr. Mehernosh Mehta's re-appointment as Whole Time Director for one year from March 17, 2026 to March 16, 2027, with annual remuneration of Rs. 35,63,316. The remote e-voting period runs from February 24 to March 25, 2026, with results expected by March 27, 2026.
*this image is generated using AI for illustrative purposes only.
Hitech Corporation Limited has issued a postal ballot notice to shareholders seeking approval for the re-appointment of Mr. Mehernosh Mehta as Whole Time Director. The company filed the notice with stock exchanges on February 23, 2026, pursuant to Regulation 30 of SEBI Listing Regulations.
Director Re-appointment Details
The postal ballot seeks shareholder approval for Mr. Mehernosh Mehta's (DIN: 00372340) re-appointment as Whole Time Director for a period of one year. The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved this re-appointment at their meeting held on February 10, 2026.
| Parameter: | Details |
|---|---|
| Appointment Period: | March 17, 2026 to March 16, 2027 |
| Duration: | 1 year |
| Previous Term: | March 17, 2021 to March 16, 2026 (5 years) |
| Liable to Retire: | By rotation |
Remuneration Structure
The proposed remuneration package for Mr. Mehta has been structured with specific components for the financial year 2026-27.
| Component: | Amount (Rs.) |
|---|---|
| Gross Salary: | 27,21,828 per annum |
| Other Perquisites & Allowances: | 8,41,488 per annum |
| Total Remuneration: | 35,63,316 per annum |
Additional perquisites include contributions to Provident Fund, Superannuation Fund, Gratuity, and leave encashment, which will not be included in the remuneration ceiling computation as per Schedule V of the Companies Act.
Professional Background
Mr. Mehernosh Mehta brings significant expertise to his role as Whole Time Director. He holds a B.E. in Electronics Engineering from Mumbai University and a Master's in Electrical Engineering from Michigan Technological University. His professional experience spans extensive operations in manufacturing companies, with 20 years at Sun-Up Botanics Private Limited prior to joining Hitech Corporation Limited.
| Profile Details: | Information |
|---|---|
| Age: | 58 years |
| Date of Birth: | November 25, 1967 |
| First Appointment: | March 17, 2016 |
| Other Directorships: | Paladin Paints & Chemicals Private Ltd. |
| Shareholding: | NIL |
Voting Process and Timeline
The company has established a comprehensive e-voting process for shareholders to participate in the postal ballot. The voting will be conducted exclusively through remote electronic voting, with no physical voting option available.
| Voting Timeline: | Date & Time |
|---|---|
| Cut-off Date: | February 13, 2026 |
| E-voting Commencement: | February 24, 2026 (9:00 a.m.) |
| E-voting Conclusion: | March 25, 2026 (5:00 p.m.) |
| Results Declaration: | On or before March 27, 2026 |
The postal ballot notice has been sent electronically to all shareholders whose email addresses are registered with the company, Registrar and Share Transfer Agent (MUFG Intime India Private Limited), or depositories. The notice is also available on the company's website and stock exchange platforms.
Regulatory Compliance
M/s. Mayank Arora, Practicing Company Secretary (Membership No.: FCS 10378 and CP 13609), has been appointed as Scrutinizer for conducting the postal ballot process. The company has engaged National Securities Depository Limited (NSDL) to provide the e-voting facility platform. The resolution, if passed by requisite majority, will be deemed to have been passed on March 25, 2026.
Historical Stock Returns for Hitech Corporation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.39% | -0.65% | -3.83% | -27.28% | -18.82% | +12.92% |
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