Veedol Corporation Seeks Shareholder Approval for New Director Appointment
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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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
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+2.26% | +0.76% | -1.04% | +14.88% | -19.57% | -19.57% |