AGI Greenpac Limited has issued an updated notice regarding its ongoing Postal Ballot process, correcting the e-Voting end date to June 6, 2026. The company is seeking shareholder approval for key board appointments, including a new consultant and independent director, alongside the re-appointment of its Chairman and Managing Director. These strategic moves are intended to leverage industry expertise to drive business growth and operational excellence through 2031.
Clarification on Postal Ballot Schedule
AGI Greenpac Limited has rectified an inadvertent error in the e-Voting timeline communicated in its earlier postal ballot notification. The company confirmed that the remote e-Voting facility will remain active until 5:00 P.M. (IST) on Saturday, June 6, 2026. All other terms and conditions of the postal ballot remain unchanged.
Leadership and Governance Appointments
The company has proposed several leadership changes to strengthen its board and operational capacity:
- Mr. Ram Babu Kabra: Appointed as a Non-Executive Non-Independent Director effective April 28, 2026. Additionally, the company is seeking approval to appoint him as a Consultant for a 5-year term, with a professional fee of up to Rs. 2,15,04,000 per annum.
- Mr. Sushil Kumar Roongta: Proposed for appointment as a Non-Executive Independent Director for a 5-year term, effective from July 1, 2026, to June 30, 2031.
Re-appointment of Chairman and Managing Director
The company has approved the re-appointment of Mr. Sandip Somany as Chairman and Managing Director for another 5-year term, commencing on December 1, 2026, and ending on November 30, 2031. The remuneration structure for this role includes a salary of Rs. 49,00,000 per month (with a specified scale) and a commission of 5% of the company’s net profits, subject to applicable regulatory limits.
Commission for Non-Executive Directors
To ensure continued governance excellence, the company is seeking approval for the payment of commission to Non-Executive Directors. For a period of 5 years, commencing from April 1, 2026, to March 31, 2031, eligible directors will receive 1% of the company’s net profits, calculated in accordance with the provisions of the Companies Act, 2013.
Source: BSE
