Key Resolution

Seeking shareholder approval via an Ordinary Resolution for the appointment of Shri Divesh Sehara (DIN:08365952) as a Government Nominee Director on the Board of the Corporation.

Basis for Appointment

The appointment is pursuant to a letter dated 10th September 2026 issued by the Ministry of Finance, Department of Financial Services, Government of India. The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment effective 10th September 2026.

Director Details

Name: Shri Divesh Sehara

DIN: 08365952

Date of Birth: 07-01-1979

Age: 47 years

Nationality: Indian

Qualification: B.A. (Economic Hons.)

Current Role: Joint Secretary, Department of Financial Services, Government of India; Indian Administrative Service (IAS) Officer of 2005 Batch (Bihar Cadre).

Other Directorship: Serves as a Government Nominee Director on the Board of Punjab National Bank since 10th September 2026.

Areas of Expertise: Administration.

Statutory Compliance

The Corporation has received from Shri Divesh Sehara all required statutory disclosures and declarations, including:

  • Consent to act as a Director in Form DIR-2.
  • Intimation in Form DIR-8 confirming he is not disqualified under Section 164(2) of the Companies Act, 2013.

He will not be liable to retire by rotation as per Section 152 of the Companies Act, 2013.

Shareholding and Interest

Shri Divesh Sehara holds nil shares in the Corporation. Save and except him, none of the other Directors, Key Managerial Personnel, or their relatives are concerned or interested in the resolution.

Postal Ballot Process & Timeline

  • Cut-off Date: Friday, 9th October 2026 (for determining voting eligibility).
  • E-Voting Service Provider: National Securities Depository Limited (NSDL).
  • Voting Commencement: 9:00 A.M. (IST) on Friday, 23rd October 2026.
  • Voting Conclusion: 5:00 P.M. (IST) on Saturday, 21st November 2026.
  • Result Declaration: The result will be announced within 2 working days of the conclusion of the voting period at the Registered Office and will be made available on the company and stock exchange websites.
  • Scrutinizer: Mrs. Ragini Chokshi (FCS No: 2390) has been appointed to scrutinize the process.

Document Availability

The Notice and explanatory statement are being sent electronically to members. Physical copies are not being dispatched. The documents are available for electronic inspection on the company's website (www.gicre.in), the stock exchange websites (BSE and NSE), and NSDL's e-voting website (www.evoting.nsdl.com).

Financial Impact

No direct financial impact is quantified in the disclosure. The appointment is a governance action.

#Tags: #GeneralInsuranceCorporationOfIndia #SEBIDisclosure #RegulatoryCompliance #BoardAppointment #Neutral