Hitech Corp: Postal Ballot for Re-appointment of Whole Time Director Mr. Mehernosh Mehta
Hitech Corporation Limited is seeking shareholder approval via postal ballot for the re-appointment of Mr. Mehernosh Mehta as Whole Time Director for one year, from March 17, 2026, to March 16, 2027. Eligible shareholders can cast their votes electronically from February 24 to March 25, 2026. Mr. Mehta's proposed remuneration is ₹35,63,316 per annum.
The re-appointment of a Whole Time Director for a standard term is a routine corporate governance activity and is unlikely to have a significant short-term impact on the company's operations or stock price.
The announcement is a routine corporate action regarding the re-appointment of a director, which is a standard procedure and does not inherently present positive or negative financial implications.
Hitech Corporation Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of Mr. Mehernosh Mehta as a Whole Time Director for a period of one year.
The re-appointment is proposed to be effective from March 17, 2026, to March 16, 2027. Mr. Mehta, holding DIN: 00372340, has been with the company and previously served as a Whole Time Director for five years starting March 17, 2021. His qualifications include a B.E. in Electronics Engineering from Mumbai University and a Master’s in Electrical Engineering from Michigan Technological University, with extensive prior experience.
The remote e-voting period will commence on Tuesday, February 24, 2026, at 9:00 a.m. IST and conclude on Wednesday, March 25, 2026, at 5:00 p.m. IST. The results of the e-voting are expected to be declared on or before Friday, March 27, 2026. Shareholders whose names appear on the Register of Members or in the list of Beneficial Owners as of Friday, February 13, 2026, are eligible to participate in the postal ballot.
The proposed remuneration for Mr. Mehta for FY 2026-27 includes a gross salary of ₹35,63,316 per annum, comprising ₹27,21,828 as gross salary and ₹8,41,488 as other perquisites and allowances. The company's Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved this re-appointment. Mr. Mehta does not hold any shares in the company as of the notice date and is not related to any other Directors or Key Managerial Personnel.
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Hitech Corporation Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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