JSW Dulux Limited (formerly Akzo Nobel India Limited) has successfully concluded its postal ballot process, with shareholders approving all eight resolutions proposed. The approvals include the appointment of Mr. Kaustubh Sudhakar Kulkarni as a Non-Executive Non-Independent Director and Ms. Sutapa Banerjee as an Independent Director. Additionally, the company secured approval for the Employee Stock Option Scheme 2026, including grants for subsidiary and holding company employees, and associated funding mechanisms through a trust route.
Board Appointments Finalized
Following the conclusion of the postal ballot on April 26, 2026, JSW Dulux Limited has confirmed the appointment of two new directors to its board. Mr. Kaustubh Sudhakar Kulkarni has been appointed as a Non-Executive Non-Independent Director, while Ms. Sutapa Banerjee joins the board as an Independent Director. Both appointments received the requisite majority support from shareholders.
Strategic Employee Stock Option Scheme
A significant outcome of the postal ballot is the shareholder approval of the ‘JSW Dulux Limited – Employee Stock Option Scheme 2026’. This scheme is designed to incentivize talent across the organization. Shareholders have also authorized the extension of these stock options to eligible employees of both the company’s subsidiaries and its holding company.
Funding and Implementation
To support the effective implementation of the stock option scheme, the shareholders approved a trust-based route, which includes provisions for the secondary acquisition of shares. Furthermore, the company received authorization to provide the necessary financial resources to the trust to facilitate the purchase of its own shares for the purposes of this scheme. These measures collectively establish a structured framework for the company’s long-term employee compensation and retention strategy.
Governance and Amendment
In addition to the aforementioned strategic approvals, shareholders have greenlit the amendment of the Articles of Association of the company. This administrative update ensures that the company’s governance documents are aligned with its new strategic initiatives and operational requirements as it continues its transition under the JSW Dulux brand.
Source: BSE
