News ArticleKirloskar Ferrous Industries Appoints Ajay Shriram Patil as Director and Joint Managing Director with Over 98% Shareholder Support
Postal ballot conducted from October 7 to November 5, 2026, ratifies appointments and remuneration terms for Mr. Patil
Kirloskar Ferrous Industries Limited announced the appointment of Mr. Ajay Shriram Patil as Director and Joint Managing Director following a postal ballot held from October 7 to November 5, 2026. Both resolutions secured over 98% approval from shareholders, confirming his roles and remuneration terms effective November 2026.
Kirloskar Ferrous Industries Limited
Change in Management
Kirloskar Ferrous Industries Limited finalized the appointment of Mr. Ajay Shriram Patil as Director and Joint Managing Director through a postal ballot voting process held between October 7 and November 5, 2026, with both resolutions passing by substantial shareholder majority.
The postal ballot included two resolutions: the appointment of Mr. Ajay Shriram Patil as a Director and as Joint Managing Director, along with approval of his remuneration terms.
The voting was conducted electronically, with shareholders entitled as on the cut-off date of October 2, 2026, participating in the process.
Resolution 1 received 99.9138% votes in favor and 0.0862% against out of 11,290,9620 valid votes cast by 346 members.
Resolution 2 received 98.2161% votes in favor and 1.7839% against out of 11,290,9025 valid votes cast by 346 members as well.
The company ensured compliance with SEBI regulations and the Companies Act by appointing a practicing company secretary as scrutinizer, who confirmed the validity and majority of the voting results.
Highlights
- Postal ballot voting held from October 7 to November 5, 2026, for director appointments and remuneration approval.
- Appointment of Mr. Ajay Shriram Patil confirmed as Director and Joint Managing Director.
- Resolution 1 passed with 99.9138% votes in favor from 346 members.
- Resolution 2 passed with 98.2161% votes in favor from 346 members.
- Voting conducted electronically under SEBI regulations with results verified by a practicing company secretary.
Key Data Snapshot
What happened
- Kirloskar Ferrous Industries Limited appointed Mr. Ajay Shriram Patil as Director and Joint Managing Director.
- The appointments and remuneration terms were approved via postal ballot held from October 7 to November 5, 2026.
- Both resolutions received overwhelming support from shareholders participating in the e-voting process.
Key details
- 346 members voted in the postal ballot procedure.
- Resolution no. 1 (director appointment) passed with 99.9138% votes in favor.
- Resolution no. 2 (appointment as Joint Managing Director and remuneration approval) passed with 98.2161% votes in favor.
- The voting was conducted electronically using systems provided by NSDL.
- The cut-off date for voting eligibility was October 2, 2026.
Regulatory and governance context
- The postal ballot and voting procedures complied with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013.
- A practicing company secretary acted as scrutinizer to ensure transparency and proper validation of votes.
- Voting results were reconciled with the Company's Registrar and Share Transfer Agent data.
Highlights
- Postal ballot voting held from October 7 to November 5, 2026, for director appointments and remuneration approval.
- Appointment of Mr. Ajay Shriram Patil confirmed as Director and Joint Managing Director.
- Resolution 1 passed with 99.9138% votes in favor from 346 members.
- Resolution 2 passed with 98.2161% votes in favor from 346 members.
- Voting conducted electronically under SEBI regulations with results verified by a practicing company secretary.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Companies Act, 2013
- Companies (Management & Administration) Rules, 2014
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