Advance Metering Technology withdraws its proposed postal ballot process following the sudden demise of its Chairman and Executive Director, Mr. Pranav Kumar Ranade.
The re-appointment of Mr. Ranade was a key agenda item in the postal ballot notice, which has now been withdrawn and not dispatched to shareholders.
The company is now identifying a new candidate for the Board and a new Chairman, with plans to seek approvals for these changes in due course.
The company assures shareholders this withdrawal will not impact its growth plans and will comply with all applicable laws for future appointments.