Websol Energy System Limited has issued a Postal Ballot Notice to seek shareholder approval for the re-appointment of Mr. Sohan Lal Agarwal as Managing Director of the company. The notice is issued pursuant to Regulation 30 of the SEBI Listing Regulations and Section 110 of the Companies Act, 2013.

Key Resolution

Special Business: Re-appointment of Mr. Sohan Lal Agarwal (DIN: 00189898) as Managing Director of the Company for a term of three years with effect from April 1, 2026.

The resolution seeks approval for:

  • Reappointment for three years from April 1, 2026 to March 31, 2029
  • Remuneration terms including fixed salary, perquisites, and commission
  • Authority to the Board to modify terms as needed

Remuneration Details

  • Fixed Salary: ₹4,00,00,000 (Four Crore) per annum effective from April 1, 2026
  • Perquisites: Company car with driver, medical expenses for self and family, membership fees for two clubs
  • Commission: 2% per annum of Net Profit with maximum limit of ₹5.00 crore in a financial year
  • Valuation: Perquisites to be valued as per Income-tax Rules or at actual cost
  • Minimum Remuneration: In case of loss or inadequate profits, minimum remuneration payable subject to central government approval if required

Voting Details

  • Cut-off Date: June 12, 2026 for determining eligible shareholders
  • Voting Period: June 25, 2026 (9:00 AM IST) to July 24, 2026 (5:00 PM IST)
  • Voting Method: Remote e-voting through NSDL
  • Result Declaration: On or after July 28, 2026 by scrutinizer
  • Notice Distribution: Electronic mode only to registered email addresses

Background Information

Mr. Sohan Lal Agarwal was previously appointed as Managing Director for five years from April 1, 2021 to March 31, 2026, approved by shareholders at the AGM held on September 30, 2021. His remuneration for financial year 2025-26 was ₹7.51 crores.

Director Details

  • Name: Mr. Sohan Lal Agarwal
  • DIN: 00189898
  • Date of Birth: March 4, 1946 (80 years)
  • First Appointment: September 25, 1992
  • Qualification: B.Com
  • Experience: Over 50 years in varied industries, including approximately 35 years in renewable energy
  • Current Shareholding: 3,86,32,080 shares
  • Board Meeting Attendance: 8 out of 8 meetings
  • Directorships: S L Industries Private Limited, Websol Green Projects Private Limited, Websol Renewables Private Limited, Bright Earth Cell Private Limited

Scrutinizer Appointment

Mr. Abhijit Majumdar (Membership No. A9804, Certificate of Practice No. 18995), Practicing Company Secretaries, Kolkata, has been appointed as scrutinizer for the postal ballot process.

Document Availability

The Postal Ballot Notice is available on the company's website (https://www.websolenergy.com/) and on the websites of NSE (www.nseindia.com) and BSE (www.bseindia.com).