Summary of Key Information:

Nature of Filing / Announcement: Outcome of Board Meeting pursuant to Regulation 30 of SEBI LODR

Date of Board Meeting / Approval: August 29, 2026

Meeting Duration: Commenced at 2:00 PM and concluded at 3:20 PM

Key Management Changes:

Resignations:

  • Mr. Shreeram Bagla resigned from the position of Managing Director and Director of the Company, effective from the close of business hours on August 29, 2026. Reason: Decision to step down from executive responsibilities and relocate to native place to devote more time to social, charitable and community welfare activities. DIN: 01895499
  • Mr. Rohit Singhania resigned from the position of Chief Executive Officer of the Company, effective August 29, 2026. Reason: To focus extensively on sales activities and contribute to business development and market expansion initiatives while continuing as Group Sales Head.

The Company confirms there are no material reasons for either resignation other than those stated in their resignation letters, and no disagreements with the Company's affairs, management, operations or governance.

Appointments/Designation Changes:

  • Mr. Ritesh Shaw was redesignated from Whole-Time Director to Managing Director of the Company, effective August 29, 2026, subject to shareholder approval at the ensuing AGM.
  • Mr. Ritesh Shaw was appointed as Chief Executive Officer of the Company, effective August 29, 2026, in addition to his position as Managing Director.
  • There is no change in the existing terms and conditions of Mr. Shaw's appointment, including his tenure and remuneration.

Profile of Mr. Ritesh Shaw: Chartered Accountant by profession, Promoter of the Company, seasoned entrepreneur with extensive experience in finance, business management, strategic planning and corporate decision-making.

Corporate Approvals:

Borrowing Powers:

  • Enhancement of borrowing powers of the Board pursuant to Section 180(1)(c) of Companies Act, 2013 up to a revised limit of ₹350 Crores (Rupees Three Hundred Fifty Crores Only), subject to shareholder approval at the ensuing AGM.

Asset Charging Authorization:

  • Authorization to the Board under Section 180(1)(a) of Companies Act, 2013 for creation of charge on the assets of the Company, both present and future, up to a revised limit of ₹350 Crores (Rupees Three Hundred Fifty Crores Only), subject to shareholder approval at the ensuing AGM.

Committee Re-constitution:

The Board approved re-constitution of the following committees effective August 29, 2026:

Audit Committee:

  • Mr. Chandan Ghosh (Independent Director) - Chairman
  • Mr. Ritesh Shaw (Managing Director) - Member
  • Mr. Harish Ramanna Navarathna (Independent Director) - Member

Stakeholders' Relationship Committee:

  • Composition not specified in detail

Annual General Meeting:

  • The 5th Annual General Meeting will be held on September 30, 2026 (Wednesday) at 3:00 P.M.
  • Venue: Via two-way Video Conference / Other Audio-Visual Means
  • Cut-off date for E-Voting: September 23, 2026
  • Scrutinizer appointed: CS Md. Shahnawaz, Practicing Company Secretary

Other Directorhips of Resigning Director:

Mr. Shreeram Bagla holds directorships in:

1. Dhruva Capital Services Limited - Stakeholders Relationship Committee Member

2. L C C Infotech Limited - Stakeholders Relationship Committee Member

Compliance Officer:

Shakeel Ahmed, Company Secretary & Compliance Officer (M. No. A46966)