Jet Freight Logistics Ltd. to seek member approval via postal ballot for MD & Chairman re-appointment
Jet Freight Logistics is conducting a postal ballot for members to approve the re-appointment of Mr. Richard Francis Theknath as MD & Chairman and Mr. Dax Francis Theknath as Whole-time Director for three years from June 20, 2026. Annual remuneration for both is proposed at ₹1.50 crore, with a potential increase. E-voting starts April 29, 2026, and ends May 28, 2026.
The re-appointment of key management personnel and the fixation of their remuneration are important decisions that impact the company's leadership and operational continuity. While routine, these decisions are material to stakeholders.
The announcement pertains to routine corporate governance procedures like re-appointment of directors and fixing their remuneration, which are standard business practices and do not inherently indicate a positive or negative shift in the company's performance or outlook.
Jet Freight Logistics Limited has announced its intention to conduct a postal ballot to obtain member approval for significant corporate actions. The primary resolutions to be voted upon include the re-appointment of Mr. Richard Francis Theknath as Managing Director and Chairman for a period of three years, effective from June 20, 2026, to June 19, 2029, along with the fixation of his remuneration. His annual remuneration is proposed to be ₹1.50 crore, with a potential increase within a scale of ₹1.50 crore to ₹2.00 crore per annum, excluding incentives based on profit before tax.
Additionally, the company seeks approval for the re-appointment of Mr. Dax Francis Theknath as Whole-time Director for a similar three-year term, from June 20, 2026, to June 19, 2029, and the fixation of his remuneration. His proposed annual remuneration is also ₹1.50 crore, with a potential increase within a scale of ₹1.50 crore to ₹2.00 crore per annum, excluding incentives.
The postal ballot process will involve remote e-voting, commencing on April 29, 2026, at 9:00 A.M. (IST) and concluding on May 28, 2026, at 5:00 P.M. (IST). The results of the postal ballot are expected to be declared on or before May 30, 2026. The company has appointed Bigshare Services Pvt Ltd to facilitate the remote e-voting facility. Ms. Jigyasa Ved or Ms. Sarvari Shah of Parikh & Associates have been appointed as Scrutinisers to ensure the fairness and transparency of the process.
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Jet Freight Logistics 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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