Key Quantitative Figures & Dates
- Cut-off Date for Shareholder Eligibility: Friday, October 30, 2026
- E-voting Commencement: Wednesday, November 04, 2026, at 09:00 A.M. IST
- E-voting Conclusion: Thursday, December 03, 2026, at 05:00 P.M. IST
- Result Declaration Date: On or before Sunday, December 06, 2026
- Proposed Director's Term: 3 consecutive years, from September 22, 2026, to September 21, 2029
Parties Involved
- Proposed Appointee: Mr. Nihar Niranjan Jambusaria (DIN: 01808733)
- Scrutinizer: M/s. Mehta and Mehta, Company Secretaries (Represented by Ms. Ashwini Inamdar (Membership No. F9409) or, failing her, Ms. Alifya Sapatwala (Membership No. A24091))
- E-voting Service Provider: KFin Technologies Limited (KFintech)
- Regulatory Authorities: SEBI, Ministry of Corporate Affairs (MCA), IRDAI
Purpose and Rationale
The purpose of the postal ballot is to seek shareholder approval for the appointment of Mr. Nihar Niranjan Jambusaria as an Independent Director. The Board of Directors, based on the recommendation of its Nomination & Remuneration Committee, approved this appointment at its meeting held on September 22, 2026. The stated rationale is that his qualifications, background, and industry experience in finance and taxation would be beneficial to the Company.
Process and Voting Instructions
The Notice was dispatched on November 03, 2026, via email only to members registered as of the cut-off date. Physical copies were not sent.
- Voting is restricted to remote e-voting only.
- The company has engaged KFintech to provide the e-voting facility.
- Detailed procedures for voting are provided for both individual and non-individual shareholders holding shares in demat mode.
- Institutional members must email a scanned copy of their board resolution/authority letter to the Scrutinizer at info@mehta-mehta.com.
- The voting rights of a member will be in proportion to their share of the paid-up capital as of the cut-off date.
Director Profile and Disclosures
Mr. Nihar Niranjan Jambusaria is a 67-year-old Indian Chartered Accountant. His skills and expertise are in Finance and Taxation, including Direct Tax, International Tax, M&A, FEMA, and Business Restructuring.
- Brief Resume: A senior professional with over four decades of experience, formerly Senior Vice President – Taxation at Reliance Industries Limited until April 2020. Currently in advisory practice. Holds seven other directorships, including in IIFL Finance Limited and The Clearing Corporation of India Limited.
- Shareholding in SBI Life: Nil
- Relationship with other Directors/KMP: None
- Other Directorships: 7 (Blossom Industries Limited, Pranav Construction Limited, The Clearing Corporation of India Limited, IIFL Finance Limited, IIFL Samasta Finance Limited, Prabhudas Lilladher Advisory Services Limited, Neo Asset Trustee Private Limited)
- Committee Positions: Holds chairman and member positions on various audit, nomination, risk, and other committees across his other directorships.
- Consent and Declaration: He has submitted a declaration confirming he meets the independence criteria under the Companies Act, 2013, and SEBI LODR Regulations. He has also confirmed his consent to act as a director and compliance with the rules for registration in the data bank of independent directors.
Financial Impact
No financial impact is quantified in the disclosure for the appointment itself. The resolution authorizes the Board to pay him remuneration/fees/commission as a Non-Executive Independent Director, subject to statutory limits, as may be approved by the Board considering the recommendations of the Nomination & Remuneration Committee.
Governance and Compliance
- The draft letter of appointment for the director is available for inspection by members at the corporate office.
- Except Mr. Jambusaria, no other director or Key Managerial Personnel is concerned or interested in this resolution.
- All documents referred to in the notice are available for electronic inspection by members upon request until the last date of e-voting.