ISGEC Shareholders Approve Re-appointments of MDs and Independent Director
Isgec Heavy Engineering Limited shareholders approved the re-appointment of Mr. Aditya Puri as MD for five years from May 1, 2026. Mr. Kishore Chatnani and Mr. Sanjay Gulati were re-appointed as Joint MDs for five years from June 28, 2026. Mr. Arvind Sagar was re-appointed as Independent Director for five years from June 28, 2026.
The re-appointment of key managerial personnel and an independent director is crucial for the company's governance and strategic direction, impacting operational continuity and investor confidence.
The announcement details the successful re-appointment of key management personnel and an independent director with strong shareholder approval, indicating stability and confidence in leadership.
Isgec Heavy Engineering Limited announced the proceedings of its postal ballot, where shareholders approved the re-appointment of key managerial personnel and an independent director.
Mr. Aditya Puri was re-appointed as Managing Director for a period of five years, from May 1, 2026, to April 30, 2031. His remuneration includes a basic salary of ₹21,00,000 per month, perquisites and allowances not exceeding ₹20,00,000 per month, and a commission of up to 2.5% of the company's net profits.
Mr. Kishore Chatnani was re-appointed as Joint Managing Director and Chief Financial Officer for a five-year term from June 28, 2026, to June 27, 2031. His basic salary is ₹8,32,270 per month, with total remuneration capped at ₹3.52 crore annually.
Mr. Sanjay Gulati was re-appointed as Joint Managing Director and Head-Manufacturing Units for a five-year term from June 28, 2026, to June 27, 2031. His basic salary is ₹8,41,563 per month, with total remuneration capped at ₹3.53 crore annually, including remuneration from a joint venture.
Additionally, Mr. Arvind Sagar was re-appointed as an Independent Director for a second consecutive term of five years, from June 28, 2026, to June 27, 2031.
The voting results, announced on March 28, 2026, indicated strong approval for all resolutions, with over 90% of votes in favour for each re-appointment. The postal ballot process was conducted via remote e-voting from February 26, 2026, to March 27, 2026.
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Isgec Heavy Engineering 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 medium impact: worth reading, rarely worth acting on by itself.
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