Mindteck (India) Limited, a global technology company, has announced a significant change in its leadership structure following a recent shareholder vote. The company's shareholders have overwhelmingly approved the appointment and remuneration of Mr. Yusuf Lanewala as the new Chairman and Managing Director.

Shareholder Approval Details

The special resolution for Mr. Lanewala's appointment was passed through a postal ballot and e-voting process, which concluded on September 19, 2025. The voting results were impressive:

• Total Votes in Favor: 23,399,247 (99.99%)
• Votes Against: 2,976 (0.01%)
• Total Votes Polled: 23,402,223

Voting Process and Participation

The voting process was conducted entirely through electronic means, adhering to modern corporate governance practices. Key points of the voting process include:

• Record Date: August 15, 2025
• Total Shareholders: 32,781 on the record date
• Participating Shareholders: 152
• Voting Method: Remote e-voting system

Scrutinizer's Report

The voting process was overseen by Mr. Gopalakrishnaraj H H, a qualified Company Secretary, who served as the scrutinizer. His report confirmed that the resolution secured the requisite majority and recommended it be considered passed.

Breakdown of Votes

The voting results showed strong support across different shareholder categories:

Company's Response

Mindteck (India) Limited has stated that the voting results and the scrutinizer's report will be made available on the company's website at www.mindteck.com for transparency and easy access to all stakeholders.

About the Appointment

Mr. Yusuf Lanewala (DIN: 01770426) has been appointed as the Chairman and Managing Director of Mindteck (India) Limited. This appointment represents a significant leadership change for the company, which specializes in providing technology solutions globally.

The overwhelming support from shareholders indicates a strong vote of confidence in Mr. Lanewala's leadership and the future direction of the company under his guidance.

Mindteck (India) Limited continues to position itself as a key player in the technology sector, with this leadership change potentially signaling new strategic directions for the company.

Mindteck (India) Limited , a prominent player in the Information Technology sector, has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Yusuf Lanewala as the company's Chairman and Managing Director. The e-voting period for this resolution is set to commence on August 21, 2025, and conclude on September 19, 2025.

Key Details of the Proposed Appointment

Mr. Lanewala, aged 71, is being considered for a one-year term from August 8, 2025, to August 7, 2026. The proposed remuneration package includes:

• A fixed pay of Rs. 1.50 crore per annum
• Savings and retirement benefits as per company policy
• Group Medical and Group Accident Insurance coverage
• Other benefits in line with existing company policies

Mr. Lanewala's Background

With over four decades of experience in the IT industry, Mr. Yusuf Lanewala brings a wealth of knowledge to the role. His career highlights include:

• Leadership positions in several leading IT services companies
• CEO of Malomatia QSC, a subsidiary of Qatar's Supreme Council of Information and Communications Technology
• Independent consultant advising IT services companies and financial institutions
• Board member of an IT services subsidiary of The Saraswat Cooperative Bank

Mr. Lanewala holds a Bachelor of Commerce degree from St. Xavier's College, Kolkata, and an MBA from the State University of New York. He has also attended an Executive Education Program in Change Management at Harvard Business School.

Voting Process and Timeline

The company has engaged Central Depository Services (India) Limited (CDSL) to provide e-voting facilities to its shareholders. Key dates for the voting process are:

• E-voting commencement: August 21, 2025, at 9:00 AM (IST)
• E-voting conclusion: September 19, 2025, at 5:00 PM (IST)
• Results declaration: On or before September 23, 2025

Mr. Gopalakrishnaraj H.H., a Practicing Company Secretary, has been appointed as the scrutinizer to oversee the postal ballot process.

Financial Performance Context

To provide context for this decision, Mindteck's recent financial performance is noteworthy:

The company's financial trajectory shows consistent growth over the past three years, with turnover increasing from Rs. 1,295.10 million in FY 2022-23 to Rs. 1,550.90 million in FY 2024-25.

Shareholders are encouraged to participate in the e-voting process to voice their decision on this significant appointment. The outcome of this postal ballot could shape Mindteck's leadership and strategic direction for the coming year.