HPL Electric & Power Limited has announced the dispatch of its Postal Ballot Notice to shareholders, seeking their approval for the appointment of Mr. Ajit Sood as an Independent Director of the Company.
- The Board of Directors had previously appointed Mr. Ajit Sood as an Additional Director, designated as an Independent Director, with effect from April 13, 2025, for a term of five consecutive years. This appointment is now subject to shareholder approval through the postal ballot.
- Mr. Ajit Sood is a Post Graduate and a certified Associate from the Indian Institute of Bankers (CAIIB). He possesses over 36 years of extensive experience in the Global and Domestic Banking Industry, having retired as a Chief General Manager from State Bank of India (SBI) on April 30, 2018.
- His vast experience includes credit appraisal, sanction, and monitoring of loans to Large and Mid-Corporates, understanding of Credit Risk and Financial Management, and financing of overseas acquisitions across diverse sectors. He also served as a Senior Advisor with KPMG India Pvt. Ltd.
- The Company has confirmed that Mr. Ajit Sood meets the criteria for independence as prescribed under the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The e-voting schedule for the postal ballot is as follows:
- Cut-off date for determining eligible shareholders: Friday, May 30, 2025.
- Commencement of e-voting: Tuesday, June 03, 2025, at 09:00 A.M. (IST).
- End of e-voting: Wednesday, July 02, 2025, at 05:00 P.M. (IST).
- Declaration of voting results: On or before Friday, July 04, 2025, at 05:00 P.M.
- The postal ballot notice, along with the explanatory statement, has been sent to shareholders via email and is also available on the company's website. KFin Technologies Limited has been engaged to provide the e-voting facility.