Nilkamal Limited , a prominent player in the furniture and material handling industry, has announced a significant change in its senior management. Deepak S. Mehta, the National Sales Manager of Nilkamal's Furniture Division, has tendered his resignation to pursue new challenges and opportunities.

Key Details of the Resignation

Corporate Disclosure and Compliance

Nilkamal Limited, adhering to regulatory requirements, has formally notified both the BSE Limited and the National Stock Exchange of India Limited about this development. The company made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Transition and Future Outlook

In his resignation letter, Mr. Mehta expressed his appreciation for the support and opportunities he received during his tenure at Nilkamal Limited. He acknowledged the valuable experience of working with the leadership team and contributing to the organization's growth.

The company has not yet announced a successor for the position.

Market Implications

The departure of a key sales executive could potentially influence the company's strategies in the competitive furniture market. Stakeholders and industry observers will likely keep a close watch on any subsequent appointments or structural changes within Nilkamal's sales organization.

Nilkamal Limited , a prominent player in the Indian manufacturing sector, has successfully concluded its postal ballot process, resulting in the appointment of Mr. Gautam G. Chakravarti as a Non-Executive Independent Director. The company announced the results of the special resolution, which received resounding approval from its shareholders.

Voting Results

The remote e-voting process, which ran from August 25 to September 23, saw robust participation from Nilkamal's shareholders. Out of the total 14,922,525 shares, 11,974,499 votes were cast, representing an impressive 80.24% turnout. The results showcased overwhelming support for Mr. Chakravarti's appointment:

Appointment Details

The special resolution sought to appoint Mr. Gautam G. Chakravarti (DIN: 00004399) as a Non-Executive Independent Director of Nilkamal Limited. The voting process was conducted in compliance with Sections 108 and 110 of the Companies Act, 2013, and the relevant rules and regulations set forth by the Securities and Exchange Board of India (SEBI).

Scrutiny and Certification

Mr. Bhaskar Upadhyay, a Practicing Company Secretary (Membership No. FCS 8663/C.P No. 9625) and partner at N. L. Bhatia & Associates, served as the scrutinizer for the postal ballot process. Mr. Upadhyay certified the results on September 24, confirming the passage of the resolution with the requisite majority.

Shareholder Participation

The company reported that 22,660 members were eligible to vote as of the August 15 record date. The high participation rate and the near-unanimous approval highlight the shareholders' confidence in the board's decision to bring Mr. Chakravarti on board.

Transparency and Compliance

In line with regulatory requirements, Nilkamal Limited has made the voting results and the scrutinizer's report available on the company's website at www.nilkamal.com and on the National Securities Depository Limited's website at www.evoting.nsdl.com .

The appointment of Mr. Gautam G. Chakravarti as a Non-Executive Independent Director is expected to bring valuable expertise and insights to Nilkamal Limited's board, potentially contributing to the company's future growth and governance strategies.