The Board approved four key resolutions based on recommendations of the Nomination and Remuneration Committee, subject to approval of members at the ensuing 42nd Annual General Meeting:
1. Reappointment of Mr. Sanjay Goverdhan Sharma [DIN: 02455999] as Executive Director who retires by rotation and being eligible, offers himself for re-appointment. Mr. Sharma has more than two decades of experience in Sales and Marketing, using marketing practices that benefit business, consumers, society, and the environment.
2. Reappointment of Mr. Kuldeep Ashokbhai Shah [DIN: 08365637] as Independent Director for the second term of 5 financial years with effect from 30 October 2026. Mr. Shah holds a bachelor's degree in commerce from University of Gujarat and has experience in Audit, Accounts, and taxation.
3. Resignation of Ms. Ghumelia Abhilasha [DIN: 11261866] as Independent Director of the Company with effect from 31 October 2026 due to other work commitments and unavoidable circumstances. In her resignation letter dated 31 August 2026, she cited "other professional plan" as the reason and requested to be relieved from duties effective closing of business hours on 31 October 2026.
4. Appointment of Mr. Bharat Trivedi [DIN: 07820494] as Additional Director categorized as Independent Director of the Company. Mr. Trivedi is a member of the Institute of Company Secretaries of India, holds a bachelor's degree in commerce & Law, and possesses good knowledge of Corporate Laws, Legal Compliance Matters with over 37 years of experience in Banking Sector.
All appointments and reappointments are subject to shareholder approval at the upcoming Annual General Meeting. The company has complied with disclosure requirements under Regulation 30 of SEBI Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024.