This is with reference to our earlier letter dated February 15, 2023, informing Stock Exchanges for seeking approval of the members by way of Special Resolution through Postal Ballot for payment of a reduced annual gross compensation of Rs. 3 Crore (Previous year Rs. 3.50 Crore) to Mr. Analjit Singh, Non-executive Chairman of the Company for the Financial Year 2023-24 through e-voting.
In this regard, we would like to inform that 67.40% of the total votes were cast in favour of the special resolution which was short of the requisite 75% affirmative voting. Hence, the said resolution has not been carried through.
In this regard, please find attached the Scrutinizer''s Report dated March 18, 2023, issued by M/s. Chandrasekaran Associates, Company Secretaries for your kind information.
We request you to take the aforesaid on record and arrange to disseminate the same for the information of public.