Veedol Corporation Seeks Shareholder Approval for New Director Appointment

1 min read     Updated on 28 Aug 2025, 04:46 PM
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Overview

Veedol Corporation Limited has initiated a postal ballot to appoint Brajesh Kumar Srivastava as a Non-Executive and Non-Independent Director. Srivastava, 57, has over 32 years of experience in various government ministries. The voting period is from August 29 to September 27, with results expected on September 27. Shareholders can vote through postal ballot or electronic voting, with August 27 as the cut-off date for voting rights.

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*this image is generated using AI for illustrative purposes only.

Veedol Corporation Limited, formerly known as Tide Water Oil Company (India) Ltd, has initiated a postal ballot process to seek shareholder approval for a key board appointment. The company is proposing to appoint Brajesh Kumar Srivastava as a Non-Executive and Non-Independent Director, subject to shareholder approval.

Background of the Proposed Director

Brajesh Kumar Srivastava, aged 57, brings a wealth of experience to the Veedol Corporation board. He holds an M.Sc. in Physics and an MBA in Human Resource Management. With over 32 years of service in various ministries of the Government of India, Srivastava has extensive expertise in policy formulation, implementation, operations, human resources, finance, and parliamentary matters.

Current Roles and Reappointment

Srivastava currently serves as Deputy Secretary in the Ministry of Heavy Industries and holds a position as a Nominee Director at Andrew Yule and Company Limited. His journey with Veedol Corporation began on August 13, when he was initially appointed as an Additional Director. However, this appointment ceased after the company's 102nd Annual General Meeting on August 25. The Board subsequently reappointed him on August 26, subject to shareholder approval.

Postal Ballot Details

The postal ballot notice, dated August 26, outlines the following key points:

  • Voting Period: August 29 to September 27
  • Voting Methods: Shareholders can vote through postal ballot or electronic voting
  • Cut-off Date: August 27 (for determining voting rights)
  • Results Announcement: Expected on September 27

Implications for Veedol Corporation

The proposed appointment of Srivastava as a Non-Executive and Non-Independent Director is seen as a strategic move by Veedol Corporation. His extensive experience in government operations and policy-making could potentially bring valuable insights to the company's board, particularly in navigating regulatory landscapes and government relations.

Shareholder Action Required

Eligible shareholders are encouraged to participate in the voting process, either through the physical postal ballot form or via the e-voting platform provided by National Securities Depository Limited (NSDL). The company has appointed Manoj Prasad Shaw, a Practicing Company Secretary, as the Scrutinizer to ensure a fair and transparent voting process.

Veedol Corporation Limited, with its registered office at 'Yule House', 8, Dr. Rajendra Prasad Sarani, Kolkata, continues to adapt its leadership structure to meet the evolving needs of the business. The outcome of this postal ballot will be crucial in shaping the company's board composition and potentially its strategic direction in the coming years.

Historical Stock Returns for Veedol Corporation

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Veedol Corporation Appoints Brajesh Kumar Srivastava as Non-Executive Director

1 min read     Updated on 26 Aug 2025, 08:38 PM
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Reviewed by
Riya DeyScanX News Team
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Overview

Veedol Corporation Limited has announced the appointment of Brajesh Kumar Srivastava as a Non-Executive and Non-Independent Director, effective August 26, 2025, subject to shareholder approval. Srivastava, with over 32 years of government service experience, is currently a Deputy Secretary in the Ministry of Heavy Industries. The appointment was approved by the Board of Directors and will be put to shareholder vote through a postal ballot. Srivastava brings expertise in policy formulation, implementation, operations, human resources, finance, and parliamentary matters.

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*this image is generated using AI for illustrative purposes only.

Veedol Corporation Limited, formerly known as Tide Water Oil Company (India) Ltd., has announced the appointment of Mr. Brajesh Kumar Srivastava as a Non-Executive and Non-Independent Director, effective August 26, 2025. The appointment, approved by the Board of Directors, is subject to shareholder approval through a postal ballot.

Board Approval and Shareholder Consent

The Board of Directors of Veedol Corporation Limited passed a circular resolution on August 26, 2025, approving Mr. Srivastava's appointment. The company has issued a postal ballot notice dated August 26, 2025, seeking shareholder approval for the appointment through an ordinary resolution. Shareholders will have the option to vote via postal ballot forms or remote e-voting.

About Brajesh Kumar Srivastava

Mr. Srivastava, who holds the Director Identification Number (DIN) 09835338, brings a wealth of experience to the Veedol Corporation board:

  • Educational Background: Postgraduate in Physics with an MBA in Human Resource Management
  • Professional Experience: Over 32 years of service in various Government of India ministries
  • Areas of Expertise: Policy formulation, implementation, operations, human resources, finance, and parliamentary matters
  • Current Positions:
    • Deputy Secretary in the Ministry of Heavy Industries
    • Nominee Director on the Board of Andrew Yule and Company Limited

Appointment Details

Aspect Details
Effective Date August 26, 2025 (subject to shareholder approval)
Nature of Directorship Non-Executive and Non-Independent
Term In line with the provisions of the Companies Act, 2013

The company has confirmed that Mr. Srivastava is not debarred from holding the office of Director pursuant to any SEBI order, as required by regulatory guidelines.

Regulatory Compliance

This appointment and the subsequent shareholder approval process are in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 160 of the Companies Act, 2013. The company has duly informed the National Stock Exchange of India Ltd. and BSE Limited of this development.

Veedol Corporation's move to appoint Mr. Srivastava appears to be a strategic decision, potentially leveraging his extensive experience in government operations and policy-making to enhance the company's board expertise.

Historical Stock Returns for Veedol Corporation

1 Day5 Days1 Month6 Months1 Year5 Years
+2.26%+0.76%-1.04%+14.88%-19.57%-19.57%
Veedol Corporation
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