Swaraj Engines Ltd. Seeks Shareholder Approval for Director Appointments via Postal Ballot
Swaraj Engines Limited is seeking shareholder approval for the appointment of Mr. Sanjay Kshirsagar as Director and Whole Time Director & CEO. His tenure is proposed from September 1, 2026, to August 31, 2029. The remote e-voting period is from September 23 to October 22, 2026.
The appointment of a Whole Time Director & CEO is a significant management change that can influence the company's strategic direction and operational execution.
The announcement is a routine corporate action regarding board appointments and does not contain information that significantly impacts the company's financial performance or market position.
Swaraj Engines Limited has issued a Postal Ballot Notice to its members seeking approval for the appointment of Mr. Sanjay Kshirsagar as a Director and as Whole Time Director (WTD) & Chief Executive Officer (CEO). The notice, sent electronically in compliance with Ministry of Corporate Affairs (MCA) circulars, outlines the proposals for shareholder voting through remote e-voting. Mr. Kshirsagar, a Mechanical Engineer with over 34 years of experience in projects and manufacturing operations, was appointed as an Additional Director on September 1, 2026, and as CEO (Designate) on April 10, 2026. His appointment as WTD & CEO is proposed for a period of three years, from September 1, 2026, to August 31, 2029, with a basic salary of ₹1,69,955 per month, along with perquisites not exceeding 300% of his annual basic salary and performance pay up to 175% of his annual basic salary.
The remote e-voting period commenced on September 23, 2026, and will conclude on October 22, 2026. Shareholders can cast their votes electronically via the National Securities Depository Limited (NSDL) platform. Detailed instructions for remote e-voting are provided in the notice, which is also available on the company's website and NSDL's website. The company has appointed Mr. Ajay K. Arora as the Scrutinizer for the postal ballot process, and the results will be declared on the company's website and stock exchange websites within 48 hours of the conclusion of remote e-voting.
The appointment of Mr. Kshirsagar as a Director is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, requiring shareholder approval within three months of his appointment. His appointment as WTD & CEO is to facilitate seamless succession following the completion of Mr. Devjit Sarkar's tenure on August 31, 2026. Mr. Kshirsagar's extensive experience includes overseeing engine plants at Mahindra & Mahindra Ltd., driving manufacturing digitization, and leading various initiatives in the automotive and farm divisions.
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Swaraj Engines Limited filed this with the NSE as a statutory disclosure, categorised under board changes. 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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See the model portfoliosA plain-language summary of a public exchange filing by Swaraj Engines Limited. Read the original for the full detail.