Titan Company Redeems ₹1000 Crore Commercial Papers and Seeks Shareholder Approval for Key Director Appointments
Titan Company Limited has fully redeemed Commercial Papers worth ₹1000 crore. The company has also initiated a postal ballot process for two key director appointments: the re-appointment of Mr. Sandeep Singhal as an Independent Director for a second five-year term, and the appointment of Mr. Puneet Chhatwal as a Non-Executive Director. The e-voting process for shareholders will run from September 23 to October 22, with results to be declared by October 24.

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Titan Company Limited , a leading player in the Indian consumer goods sector, has recently made two significant announcements: the redemption of Commercial Papers worth ₹1000 crore and the initiation of a postal ballot process for key director appointments.
Redemption of Commercial Papers
Titan Company Limited has fully redeemed Commercial Papers worth ₹1000 crore with ISIN INE280A14468. The company informed BSE about the completion of the redemption process through a regulatory communication signed by General Counsel & Company Secretary Dinesh Shetty.
Postal Ballot for Director Appointments
In addition to the financial update, Titan Company has initiated a postal ballot process to seek shareholder approval for two significant director appointments. The company, known for its watches, jewelry, and eyewear businesses, is looking to strengthen its board with these strategic moves.
Re-appointment of Independent Director
The first proposal on the ballot is the re-appointment of Mr. Sandeep Singhal as an Independent Director for a second term. Mr. Singhal, who has been serving on Titan's board since November 11, 2020, is being considered for another five-year term. This re-appointment requires approval through a special resolution.
Mr. Singhal, aged 59, brings a wealth of experience to Titan's board. He is the co-founder of Nexus Venture Partners and has a strong background in business strategy, mergers and acquisitions, governance, risk management, and technological expertise. His qualifications include:
- MBA from The Wharton School with majors in Finance and Marketing
- BS in Electrical Engineering from Stanford University
Appointment of Non-Executive Director
The second item on the ballot is the appointment of Mr. Puneet Chhatwal as a Non-Executive Director. Mr. Chhatwal, aged 61, was appointed as an Additional Director following the resignation of Mr. P B Balaji. Shareholders are now being asked to confirm his appointment through an ordinary resolution.
Mr. Chhatwal is currently the Managing Director and CEO of Indian Hotels Company Limited (IHCL) and brings extensive experience in the hospitality sector. His expertise spans:
- Finance
- Strategy
- Business leadership
- Sales & marketing
- Digital & information technology
Mr. Chhatwal holds an MBA in Hospitality from ESSEC, Paris, and has completed an Advanced Management Program from INSEAD.
Voting Process and Timeline
Titan Company has engaged the services of National Securities Depository Limited (NSDL) to provide remote e-voting facilities to its shareholders.
Key dates for shareholders to note:
Event | Date |
---|---|
Cut-off date for voting eligibility | September 12 |
E-voting start date | September 23 (9:00 AM IST) |
E-voting end date | October 22 (5:00 PM IST) |
Declaration of results | On or before October 24 |
The company has appointed Mr. V Sreedharan or, in his absence, Mr. Pradeep B. Kulkarni of M/s. V. Sreedharan & Associates, Practicing Company Secretaries, as the Scrutinizer for conducting the postal ballot process.
Titan Company's move to strengthen its board comes at a time when the retail and consumer goods sectors are witnessing rapid changes and digital transformation. The proposed appointments are expected to bring fresh perspectives and valuable expertise to guide the company's future strategies and growth initiatives.
Shareholders are encouraged to participate in the voting process and make their voices heard in these important corporate governance decisions.
Historical Stock Returns for Titan
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-0.21% | +1.52% | -6.56% | +13.10% | -4.77% | +172.58% |