The Board meeting was held on Saturday, May 30, 2026.
The meeting commenced at 11:00 A.M. and concluded at 01:45 P.M.
Appointments / Reappointments
Executive Director: Mr. Naresh Kumar Verma (DIN: 07087356) was appointed as Executive Director - Operations.
Term: 5 (Five) years effective from June 01, 2026.
Remuneration: The proposed remuneration is subject to the approval of members at the ensuing Annual General Meeting.
Profile: Mr. Naresh Kumar Verma, aged 66 Years, is a master in Commerce and holds a Post Graduate Diploma in Personnel Management & Industrial Relations. He has 44 years of experience and has served in companies like VXL India Limited, Bhartia Cutler Hammer, and Daikin Shriram Air Conditioning. He currently holds the designation of Non-Executive Director in Raunaq International Limited, a company within the group. He has no inter-se relationships between other directors.
Internal Auditor: M/s Ernst & Young LLP (LLP Identity No. AAB-4343) was appointed as the Internal Auditors for the Financial Year 2026-27.
Cost Auditor: M/s M.K. Kulshrestha & Associates, Cost Accountants, Ghaziabad, was appointed as Cost Auditors for the Financial Year 2026-27.
Cessation
The Board decided not to extend the term of Mr. Sameer Kanwar, Joint Managing Director.
His tenure will expire on May 31, 2026, after the closure of business hours.
Mr. Sameer Kanwar is the son of Mr. Surinder Paul Kanwar, Chairman and Managing Director of the Company.
Compliance Disclosure
The company affirmed that the newly appointed director, Mr. Naresh Kumar Verma, is not debarred from holding the office of director by virtue of any order of SEBI or any other authority.
The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant circulars (BSE Ref. No. LIST/COMP/14/2018-19 and NSE/CMIR/2018/02 dated 20th June, 2018).
The company also complied with SEBI Master Circular No. HO/CFD/CMD/CMD/POD-2/113762/2026 dated 30 January 2026.
