MUMBAI - Tata Steel (NS:TISC) Limited has announced a postal ballot process to appoint Mr. Pramod Agrawal as an independent director, as per a notice dated November 24, 2024. The company has initiated the voting procedure for its shareholders, which will be conducted exclusively through electronic means, in line with the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) regulations.
The remote e-Voting period for shareholders commenced on Tuesday, November 26, 2024, and will conclude on Wednesday, December 25, 2024. The e-Voting system, provided by National Securities Depository Limited (NSDL), will be disabled after the voting period ends. Shareholders' voting rights are proportional to their equity shareholdings as of the cut-off date, November 15, 2024.
In compliance with MCA circulars and SEBI regulations, Tata Steel is not sending physical copies of the postal ballot notice or forms to its members. Instead, the notice and instructions for e-Voting have been sent electronically to those members whose email addresses are registered with the company or its depositories.
Members who have not registered their email addresses and wish to receive the notice electronically are instructed to provide their email details to the company's Registrar and Transfer Agent (RTA), Link Intime India Private Limited, by December 13, 2024. The process for one-time registration of email addresses is outlined in the notice and on the RTA's website.
The appointment of Mr. Agrawal is subject to approval by the majority of the company's shareholders. The results of the postal ballot will be declared after the e-Voting period ends and will be made available on the company's website and NSDL's platform.
This corporate governance move is part of Tata Steel's ongoing efforts to comply with regulatory requirements and enhance transparency with its stakeholders. The information is based on a press release statement from Tata Steel Limited.
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