Meeting Details
The voting is conducted via postal ballot/remote e-voting without a physical meeting. The cut-off date for determining shareholder eligibility is October 31, 2026. The e-voting period commences on November 7, 2026, at 09:00 AM IST and concludes on December 6, 2026, at 05:00 PM IST.
Proposed Resolution and Implications
The single special resolution proposes the appointment of Mr. Sumeet Narang (DIN: 01874599) as Non-Executive Independent Director for a term of five consecutive years from October 14, 2026, to October 13, 2031. The appointment would make the board majority-independent with 6 out of 11 directors being independent, exceeding the regulatory requirement of one-half independent directors under Regulation 17(1)(b) of SEBI Listing Regulations.
Voting Process and Methods
The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities. Voting is conducted electronically through NSDL's platform, with multiple login methods available for demat account holders (both NSDL and CDSL) and physical shareholders. Institutional shareholders must submit scanned copies of board resolutions/authority letters to the scrutinizer.
Key Voting Outcomes and Scrutinizer Details
The results will be declared on or before December 8, 2026 (within two working days after e-voting conclusion). The company has appointed Mr. P. N. Parikh (FCS 327, CP 1228) as Scrutinizer, with Mr. Mitesh Dhabliwala (FCS: 8331, CP: 9511) and Ms. Sarvari Shah (FCS: 9697, CP 11717) of Parikh & Associates as alternates. The scrutinizer will submit a report to the chairman upon completion of the voting process.
Compliance with Laws and Regulations
The notice confirms compliance with Sections 108 and 110 of the Companies Act, 2013, read with Companies (Management and Administration) Rules, 2014, SEBI Listing Regulations, MCA Circulars (including General Circular Nos. 14/2020, 17/2020, 09/2024, and 03/2025), and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133. The appointment follows the recommendation of the Nomination and Remuneration Committee and board approval from October 14, 2026.
Director Profile and Qualifications
Mr. Sumeet Narang is Founder & CEO of Samara Capital Group, with over USD 2 billion in investments since 2007. His experience includes Goldman Sachs (New York), Citigroup India, and Fiat Group (Italy and India). Qualifications include MBA from Harvard Business School, Master's in Management from IIM Lucknow, and B.E. in Mechanical Engineering from IIT Roorkee. He currently serves on boards of Sapphire Foods India Limited (since February 9, 2015), Godrej Consumer Products Limited (since April 1, 2019), and Godrej Properties Limited (since August 18, 2023).
Additional Information
The notice is available on company website (www.ceat.com), stock exchange websites (BSE and NSE), and NSDL e-voting portal. Shareholders without registered email IDs must submit required documents to investors@ceat.com for voting access. All dividend payments will be made electronically only upon furnishing PAN and KYC details.