Corporate News
Shareholders of an adhesives and sealants manufacturer will vote at the Annual General Meeting on the re-appointment of Executive Director Nidhi Haresh Motwani for a further three-year term, alongside a proposed 10% increase in her annual remuneration from Rs 44.85 Lakhs to Rs 49.33 Lakhs. The remuneration package, subject to board decisions on incentive and perquisite amounts, is attributed to the skills and performance required for the role and prevailing industry standards. Ms. Motwani, who holds 10.88% of the company’s equity, is the daughter of the Chairperson and sister of the Managing Director, both of whom are promoters. The company’s financial performance and steps taken to address inadequate profits stemming from a recent fire incident at the manufacturing facility will also be reviewed. Shareholder approval for Ms. Motwani’s re-appointment and remuneration will require a Special Resolution.