Inter State Oil Carrier Ltd said in a BSE filing on October 5, 2026, that its board approved a revision in Managing Director Sanjay Jain’s remuneration to introduce profit-linked commission, subject to shareholder approval through a postal ballot. The board also approved related party transactions and arrangements for the voting process.

The remuneration proposal follows a recommendation from the Nomination and Remuneration Committee and approval by the Audit Committee and the board. The supplied filing does not specify the commission rate or amount.

The proposed revision would take effect from April 1, 2026, and apply until July 31, 2028, covering the remaining period of Jain’s current tenure. All other terms and conditions of his appointment would remain unchanged.

Shareholder eligibility and voting timetable

The board fixed October 9, 2026, as the cut-off date for determining members’ eligibility to participate in the postal ballot. It also approved the draft notice, explanatory statement and remote e-voting details. The company said it would submit the notice to the stock exchange and circulate it to members in due course.

The tentative calendar accompanying the filing sets out the following schedule:

  • Dispatch of the postal ballot notice through electronic means: October 14, 2026.
  • Publication of the advertisement informing members about dispatch: October 15, 2026.
  • Remote e-voting: October 17, 2026, at 9:00 a.m. to November 15, 2026, at 5:00 p.m.
  • Submission of the scrutinizer’s report and declaration and dissemination of results: on or before November 17, 2026.

Ballot administration and existing tenure

The board appointed Rantu Das & Associates, Company Secretaries, as scrutinizer for the postal ballot and Central Depository Services (India) Limited as the agency providing the electronic voting platform.

Jain was reappointed Managing Director for three years, from August 1, 2025, to July 31, 2028, with members’ approval at the 41st annual general meeting. The filing identifies him as the father of Siddhant Jain, the company’s Whole-Time Director.

While the board separately approved related party transactions, the supplied disclosure gives no transaction values or counterparty details. Inter State Oil Carrier’s BSE scrip code is 530259.