ISGEC Heavy Engineering has announced the successful outcome of a Postal Ballot, securing shareholder approval for the re-appointment of four key managerial personnel. Resolutions for the re-appointment of Mr. Aditya Puri (MD), Mr. Kishore Chatnani (JMD), and Mr. Sanjay Gulati (JMD) passed with Ordinary majority. The Special Resolution for the re-appointment of Mr. Arvind Sagar (Independent Director) for a second term was also approved by shareholders on March 27, 2026.
Results of Shareholder Voting Confirmed
ISGEC Heavy Engineering Ltd. has officially confirmed the voting results for the resolutions put forth via Postal Ballot conducted through remote e-voting. The voting concluded on Friday, March 27, 2026, and the results were received and confirmed on March 28, 2026. All four proposed resolutions received the necessary requisite majority from the members.
Key Director Re-appointments Approved
The shareholders overwhelmingly approved the re-appointment of the following directors:
- Resolution 1 (Ordinary): Re-appointment of Mr. Aditya Puri as Managing Director.
- Resolution 2 (Ordinary): Re-appointment of Mr. Kishore Chatnani as Joint Managing Director.
- Resolution 3 (Ordinary): Re-appointment of Mr. Sanjay Gulati as Joint Managing Director.
- Resolution 4 (Special): Re-appointment of Mr. Arvind Sagar as a Non-Executive Independent Director for the second consecutive term.
Detailed Voting Summary (Annexure-1)
The process involved 40,222 total shareholders recorded on the record date of February 20, 2026. Across all resolutions, the voting indicated strong support:
- For Resolution 1 (Mr. Puri), 90.7882% of votes cast were in favour.
- For Resolution 2 (Mr. Chatnani), 99.9678% of votes cast were in favour.
- For Resolution 3 (Mr. Gulati), 99.9678% of votes cast were in favour.
- For Resolution 4 (Mr. Sagar, Special Resolution), 91.7295% of votes cast were in favour. (Note: Special Resolutions require a higher threshold).
Scrutiny and Compliance
The voting results and the Scrutinizer’s Report, prepared by Pramod Kothari & Co., confirm the due process was followed. The remote e-voting window was open from February 26, 2026, to March 27, 2026. The results have been uploaded on the company website as required.
Director Profile Confirmations (Annexure-3 Summary)
Further disclosures confirmed the terms of the re-appointments. For instance, Mr. Puri’s re-appointment term is for five years commencing May 01, 2026. In terms of relationships, Mr. Aditya Puri, Promoter, is noted as the son of Mr. Ranjit Puri, Director & Promoter. All appointed directors affirmed they are not debarred by any SEBI orders.
Source: BSE
