Motor & General Finance Board Approves 12.5% Director Remuneration Hike

Key Details

Board Meeting Date: Monday, October 19, 2026

Agenda Items

1. Remuneration Increase Approval: Board to consider and approve increase by 12.5% in remuneration of Shri Arun Mitter, Whole Time Director designated as Executive Director, effective from August 1, 2026.

2. Committee Approval: The Nomination & Remuneration Committee has already approved the increase in remuneration of Shri Arun Mitter, Executive Director and recommended to the Board for their consideration.

3. Postal Ballot Matters: Board will consider and approve Postal Ballot Notice and other items regarding:

• Special Resolution regarding increase in remuneration by 12.5% of Sh. Arun Mitter, Executive Director under Section 197, 198, 200 and 203 and other applicable provisions of the Companies Act, 2013 read with Schedule V to the Companies Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 17(6)(e) of SEBI (LODR) Regulations, 2015
• Appointment of M/s Anjali Yadav & Associates, Practising Company Secretaries as Scrutinizer for conducting the e-voting process
• Appointment of CDSL for conducting the remote e-voting process
• Appointment of M/s Alankit Assignments Ltd, Registrar and Share Transfer Agent (RTA) for conducting the remote e-voting

Effective Date

The remuneration increase is proposed to be effective from August 1, 2026, subject to shareholder approval through postal ballot.