United Spirits Shareholders Approve Narayan K Seshadri as Independent Director

United Spirits has successfully completed the shareholder approval process for the appointment of Mr. Narayan K Seshadri as Non-Executive Independent Director. The postal ballot results, announced on December 22, 2025, show overwhelming shareholder support for the appointment with the company filing official results with BSE and NSE.

Postal Ballot Results

The remote e-voting process concluded on December 20, 2025, with shareholders demonstrating strong confidence in the board's decision. The voting results were scrutinized by Mr. Sudhir V. Hulyalkar, Company Secretary in Practice, who submitted his report on December 22, 2025.

Voting Details:	Results
Total Shareholders Voted:	1,494
Votes in Favor:	59,25,41,754 (97.89%)
Votes Against:	1,27,86,538 (2.11%)
Invalid Votes:	5,000
Total Valid Votes:	60,53,28,292

Director Appointment Details

With shareholder approval now secured, Mr. Seshadri's appointment as Independent Director has been formalized with the following terms:

Appointment Terms:	Details
Director Name:	Mr. Narayan K Seshadri
DIN:	00053563
Position:	Non-Executive Independent Director
Effective Date:	October 9, 2025
Term Duration:	Three consecutive years (until October 8, 2028)
Rotation Liability:	Not liable to retire by rotation

Regulatory Compliance and Filing

The company has filed the postal ballot results with both BSE Limited (Scrip Code: 532432) and National Stock Exchange of India Limited (Scrip Code: UNITDSPR) under Regulation 44 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The appointment process adhered to all regulatory requirements under the Companies Act, 2013.

The postal ballot notice was distributed electronically to eligible shareholders, with voting conducted exclusively through the CDSL e-voting platform. The voting period commenced on November 21, 2025, and concluded on December 20, 2025, with shareholders whose names appeared in the Register of Members as of November 7, 2025 (cut-off date) entitled to participate.

Corporate Governance Enhancement

This appointment strengthens United Spirits' corporate governance framework by bringing independent oversight to the board. The resolution was passed in accordance with provisions of sections 149, 150 and 152 of the Companies Act, 2013, and SEBI LODR Regulations.

The overwhelming shareholder support, with nearly 98% approval from 1,267 shareholders voting in favor, reflects confidence in the board's strategic direction and Mr. Seshadri's potential contribution to the company's growth trajectory. The voting results and scrutinizer's report have been uploaded on the company's website and CDSL's e-voting platform for transparency.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.37%	-0.20%	-0.64%	-1.47%	-9.12%	+149.78%

The High Court of Bombay has delivered a significant ruling in favor of United Spirits Limited (USL), setting aside water charge demands totaling ₹443.00 crore raised by the Water Resources Department (WRD) of Maharashtra. This decision marks a crucial development in the ongoing dispute between the spirits major and state authorities over water usage fees.

Court's Directive

The High Court's order, dated September 26, 2025, not only overturned the existing claims but also directed the WRD to reassess the bifurcation of water charges. The department has been given a three-month window to ascertain the division between raw material and process usage, and subsequently issue reconciled water charges bills from November 2018 onwards.

Interim Measures and Company's Response

As part of the judgment, the Court has instructed United Spirits to submit an interim deposit of ₹66.50 crore, which will be adjusted against the reconciled water bills. USL, in its disclosure to the stock exchanges, stated that it is currently evaluating its next steps in light of this development.

Financial Implications

United Spirits appears confident about its position in this matter. In its risk assessment, the company expressed belief in the strength of its case on merits and does not anticipate any material financial impact from this ruling.

Timeline of Events

August 14, 2023: Initial stock exchange intimation by the company
May 21, 2024: Subsequent stock exchange intimation
September 26, 2025: High Court judgment pronounced
September 29, 2025: Judgment communicated to company officers

USL attributed the slight delay in disclosure to the need for internal assessment of the judgment and its implications.

Unrelated Matter

In an unrelated development, United Spirits has chosen not to comment on media reports concerning a potential stake sale of Royal Challengers Bengaluru (RCB), stating that it does not respond to market speculation.

This High Court decision represents a significant victory for United Spirits in its ongoing regulatory challenges. As the WRD prepares to reassess the water charges, stakeholders will be keenly watching for the final reconciled figures and any further developments in this case.