Vishnu Chemicals: Shareholders Approve Re-appointment of Joint MD, Ch. Siddartha
Vishnu Chemicals Limited shareholders approved the re-appointment of Mr. Ch. Siddartha as Joint Managing Director for five years from May 2, 2026. His remuneration includes a base salary of at least ₹72 Lakhs, perquisites, and a commission up to 1.25% of net profits. The resolution passed with 98.47% votes in favour.
The re-appointment of a Joint Managing Director is a significant event for the company's governance and future strategy, impacting its operational direction and investor confidence.
The re-appointment of a key management person with a significant majority vote indicates positive continuity and confidence in leadership.
Vishnu Chemicals Limited (VCL) has announced the minutes of the resolution passed by its members through a postal ballot via remote e-voting. The resolution, approved on April 22, 2026, concerns the re-appointment of Mr. Ch. Siddartha as Joint Managing Director for a further period of 5 years, effective from May 02, 2026, to May 01, 2031, along with his remuneration.
The Board of Directors had approved this postal ballot proposal on March 12, 2026. The e-voting period commenced on March 24, 2026, and concluded on April 22, 2026. M/s L D Reddy & Co. served as the scrutinizer for the process.
Mr. Ch. Siddartha's remuneration will include a base salary not less than ₹72,00,000 per annum, along with perquisites such as medical reimbursement, leave travel concession, club fees, car usage, and telephone/mobile facilities. Additionally, he is eligible for a commission not exceeding 1.25% of the previous year's net profits. The total remuneration is subject to the provisions of the Companies Act, 2013, and SEBI regulations.
The special resolution for the re-appointment was passed with an overwhelming majority, with 98.47% of the valid votes cast in favour. The results of the postal ballot were announced on April 24, 2026.
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Vishnu Chemicals 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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