Proxy advisory firm Stakeholders Empowerment Services (SES) has advised shareholders reject three special resolutions proposed by ITC Limited including a proposal to reappoint of Sanjiv Puri as a director, not liable to retire by rotation. The resolution also includes reappointing him as the managing director and chairman with effect from July 22, 2024, for a period of five years on retirement on such remuneration. Puri will complete his current term as managing director on July 21, 2024.

The voting, which started on August 7, on e-platform of NSDL, is open till August 10.

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SES has also advised to reject a proposal to appoint Alka Marezban Bharucha as a director and also as an independent director of the company with effect from 12th August, 2023 for a period of five years, and the reappointment of Anand Nayak as a director and also as an Independent director with effect from July 13, 2024, for a period of five years or till such earlier date to conform.

However, it recommended voting in favour other 13 proposals that include special and ordinary resolutions such as adopting results, dividend, appointments of directors in place of Sumant Bhargavan, Mukesh Gupta, payment of ₹3.85 crore to Charted Accountants SRB & CO Ltd, reappointment of Ajit Kumar Seth, Hemant Malik, payment of commissions to non-executive directors and continuing to dealing with British American Tobacco.

The AGM is scheduled on August 11.