On December 26, 2024, Sundaram Brake Linings Limited (Scrip Code: 590072, NSE: SUNDRMBRAK) announced the successful reappointment of Mr. Krishna Mahesh as the Managing Director of the company, effective from February 6, 2025. This follows the postal ballot process, which included remote electronic voting and a thorough examination of shareholder votes.

Voting Result and Details

The Postal Ballot Notice dated November 11, 2024 presented a Special Resolution for the reappointment of Mr. Krishna Mahesh as Managing Director. The resolution was passed by the requisite majority as follows:

• Total Votes Polled: The total valid shares that participated in the vote amounted to 17,73,988 shares.
• Votes in Favor: 17,73,950 shares, representing 99.99% of the votes cast.
• Votes Against: Only 38 shares, representing 0.01% of the total votes cast, were against the resolution.
• Shareholder Participation: A total of 8573 shareholders were eligible to vote, with the e-voting system enabling secure and efficient participation. The voting window was open from November 25, 2024, to December 24, 2024.

Re-appointment of Mr. Krishna Mahesh

Krishna Mahesh has been a key figure at Sundaram Brake Linings, contributing to the company's success over the years. His reappointment as Managing Director marks a significant milestone for the organization. His leadership has steered the company towards sustained growth, and his reappointment was widely supported by the shareholders, as demonstrated by the voting result.

Scrutinizer’s Report

The voting process was scrutinized by V Suresh Associates, Practising Company Secretaries, who confirmed the legitimacy of the postal ballot and e-voting process. The report indicated that the resolution to reappoint Mr. Krishna Mahesh was approved with overwhelming support from shareholders. The scrutinizer's report is available for review and outlines the transparency of the voting process, including the breakdown of e-voting results from institutional and non-institutional investors.

Process and Compliance with Regulations

The postal ballot and e-voting process complied with the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as well as various MCA circulars for remote voting. The notice was dispatched to shareholders on November 18, 2024, and the company published a public advertisement in the Financial Express (English) and Dinamani (Tamil) newspapers on November 19, 2024, to inform shareholders about the voting process.

The votes were unblocked on December 24, 2024, in the presence of two independent witnesses. The scrutinizer’s report confirms that the special resolution passed with the necessary majority and was duly processed as per regulatory guidelines.

Conclusion and Next Steps

With the resolution successfully passed, Mr. Krishna Mahesh will continue to lead Sundaram Brake Linings as its Managing Director starting from February 6, 2025. The company has shown its commitment to corporate governance and transparent shareholder engagement, ensuring that the process of reappointing key leadership remains open and efficient.

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