Piramal Finance Shareholders Approve Four New Director Appointments with 99%+ Support
Piramal Finance Limited successfully completed its postal ballot process with shareholders approving four new director appointments with exceptional support rates exceeding 99%. The appointments strengthen the board with diverse expertise from banking, finance, and corporate strategy backgrounds.
*this image is generated using AI for illustrative purposes only.
Piramal Finance Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of four new directors to strengthen the company's board. The voting results were announced on December 23, following the completion of the e-voting period that ended on December 22.
Approved Appointments and Voting Results
All four proposed director appointments received exceptional shareholder support, with approval rates exceeding 99% across all resolutions:
| Director | Position | Resolution Type | Votes in Favor | Total Votes |
|---|---|---|---|---|
| Ms. Shikha Sharma (DIN: 00043265) | Non-Executive Director | Ordinary Resolution | 99.36% | 15,94,78,641 |
| Ms. Anjali Bansal (DIN: 00207746) | Independent Director | Special Resolution | 99.37% | 15,94,78,607 |
| Mr. Rajiv Mehrishi (DIN: 00208189) | Independent Director | Special Resolution | 99.37% | 15,94,78,607 |
| Mr. Asheet Lalit Mehta (DIN: 10648593) | Independent Director | Special Resolution | 99.75% | 15,94,78,700 |
Voting Process and Participation
The e-voting process was conducted through NSDL's remote voting platform from November 23 at 9:00 AM IST to December 22 at 5:00 PM IST. The voting statistics demonstrate strong shareholder participation:
| Voting Details | Numbers |
|---|---|
| Total Shareholders (Record Date: November 14) | 2,38,915 |
| Shareholders Who Voted | 944 (for Resolution 1) |
| Scrutinizer | Mr. Bhaskar Upadhyay (FCS 8663) |
| Notice Date | November 18 |
Director Profiles and Expertise
The newly appointed directors bring diverse expertise to Piramal Finance's board:
Shikha Sharma serves as the Non-Executive Director, bringing her extensive experience as former CEO of Axis Bank with deep knowledge in banking and insurance sectors.
Anjali Bansal joins as Independent Director, contributing her expertise as Founding Partner of Avaana Capital and former Non-Executive Chairperson of Dena Bank.
Rajiv Mehrishi adds his distinguished administrative experience as a retired IAS officer who has served in key positions in both Union and Rajasthan governments.
Asheet Lalit Mehta brings corporate strategy expertise as Senior Partner Emeritus of McKinsey & Company with specialized knowledge in financial services.
Regulatory Compliance and Terms
The postal ballot process was conducted in compliance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. The company published advertisements in Business Standard (English) and Mumbai Lakshadweep (Marathi) newspapers on November 21, ensuring proper disclosure to all stakeholders.
The independent directors are appointed for a term of five consecutive years, from September 24 to September 23, 2030, subject to regulatory requirements. This board strengthening initiative positions Piramal Finance to leverage diverse perspectives and expertise for its future strategic initiatives in the financial services sector.
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