Kirloskar electric co has announced the departure of its Chief Financial Officer, Mr. Sanjeev Kumar S, effective March 6, 2026. The company informed both BSE and NSE about this key management change through a regulatory filing under SEBI Regulation 30.

Leadership Transition Details

The company's official communication, dated March 3, 2026, confirmed that Mr. Sanjeev Kumar S was relieved from his CFO position at the closure of business hours on March 6, 2026. This development follows a previous intimation made by the company on February 13, 2026, indicating prior planning for this transition.

Management's Acknowledgment

The Board of Directors and Management of Kirloskar Electric Company Limited conveyed their sincere gratitude for Mr. Sanjeev Kumar S's contributions during his tenure. The company specifically highlighted his invaluable contributions and professional guidance, noting that his support was very much appreciated and honored throughout his service period.

Regulatory Compliance

The announcement was made in compliance with SEBI regulations, specifically under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full regulatory compliance for this key management personnel change.

Company Communication

The formal intimation was signed by Company Secretary & Compliance Officer Mahabaleshwar Bhat and submitted to both major stock exchanges. The document included detailed annexures providing all required information under SEBI regulations for such corporate developments involving key management personnel changes.

Kirloskar Electric Company Limited has announced a postal ballot notice to seek shareholder approval for a related party transaction involving the appointment of Ms. Janaki Kirloskar as Chief Executive Officer of the company. The appointment, effective from February 11, 2026, requires member approval due to the familial relationship between Ms. Janaki Kirloskar and existing board members.

Related Party Transaction Details

The proposed appointment constitutes a related party transaction under Section 188(1)(f) of the Companies Act, 2013, as Ms. Janaki Kirloskar is the daughter of Mr. Vijay R. Kirloskar, Executive Chairman, and Mrs. Meena Kirloskar, Vice Chairperson and Director. She is also the sister of Ms. Rukmini Kirloskar, who serves as a Director of the company.

The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, approved the appointment at its meeting held on February 11, 2026. The Audit Committee also approved the related party transaction on the same date.

E-Voting Schedule and Process

The company has engaged Central Depository Services (India) Limited (CDSL) to provide remote e-voting facility to members. The postal ballot will be conducted exclusively through electronic voting means.

Members whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date of February 27, 2026, are entitled to vote on the resolution. The voting rights will be proportionate to their shareholding of the paid-up equity share capital as on the cut-off date.

Regulatory Compliance and Approvals

The appointment requires member approval as the monthly remuneration exceeds ₹2,50,000, as stipulated under Section 188(1)(f) of the Companies Act, 2013, read with Rule 15(3)(b) of the Companies (Meetings of Board and its Powers) Rules, 2014. The transaction also falls under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. K Chandra Sekhar, Practicing Company Secretary (ACS No. 14441/PCS No. 24363), has been appointed as Scrutinizer to conduct the postal ballot process in a fair and transparent manner. The notice has been sent electronically to members whose email addresses are registered with the company as on the cut-off date.

Board Recommendation

The Board of Directors has recommended the resolution for approval, stating that the proposed remuneration is commensurate with industry standards, Ms. Janaki Kirloskar's responsibilities, and the size and operations of the company. The Board believes the appointment is in the best interest of the company, considering her qualifications, experience, and expertise.

Except for Mr. Vijay R. Kirloskar, Mrs. Meena Kirloskar, and Ms. Rukmini Kirloskar, being relatives of Ms. Janaki Kirloskar, no other Directors, Key Managerial Personnel, or their relatives have any financial or other interest in the proposed resolution.