Nature of change: Appointment as Non-executive, Non-independent, Nominee Director
Name and DIN: Mr. Jayesh Madhusudan Dave (DIN: 01932331)
Effective date: October 1, 2026 (from conclusion of 29th AGM)
Tenure: Not liable to retire by rotation
Qualifications: MS in Computer Science from Fairleigh Dickinson University
Experience: Technology entrepreneur and business leader with more than two decades of experience building and scaling technology services businesses. Founder and CEO of XDuce Group, a global technology organization with operations across North America, the United Kingdom, and India. XDuce has grown to more than 1,500 professionals globally under his leadership.
Expertise: Business strategy, global delivery, market expansion, strategic partnerships, and development of scalable technology organizations across financial services, healthcare, education, public sector, and other complex industries.
Relationship: Not related with any Director and Key Managerial Personnel of the Company
Shareholding: Holds NIL shares in the company
Appointment of Ms. Bhawika Ogra
Nature of change: Appointment as Non-executive, Independent Director
Name and DIN: Ms. Bhawika Ogra (DIN: 00508505)
Effective date: October 1, 2026 (from conclusion of 29th AGM)
Tenure: Five consecutive years, up to and including October 1, 2031. Not liable to retire by rotation.
Date of Birth: 25/10/1973
Age: 53 years
Qualifications: Master of Management Studies with specialization in Finance from BITS Pilani. Completed IOSCO Global Certificate Program, NISM AML Certification, Six Sigma, and Strategic Leadership programme from IIM Indore.
Experience: Senior capital markets and financial services professional with 29+ years of experience in regulatory compliance, governance, risk management and capital markets. Held senior leadership roles at the National Stock Exchange of India (NSE) and NSE IFSC, including Chief Regulatory Officer & Compliance Officer of NSE IFSC and Senior Vice President at NSE.
Expertise: Led development and implementation of end-to-end regulatory and compliance framework at NSE IFSC, working closely with IFSCA and international stakeholders. Instrumental in securing approvals for the NSE IX–SGX Connect model that migrated Nifty derivatives liquidity from Singapore to India. Expertise spans capital market regulation, corporate governance, regulatory policy, risk management, surveillance, stakeholder engagement and institutional development.
Relationship: Not related with any Director and Key Managerial Personnel of the Company
Shareholding: Holds NIL shares in the company
Governance Context
Both appointments were approved by shareholders at the 29th Annual General Meeting held on September 30, 2026
Mr. Dave's appointment was approved by Ordinary Resolution
Ms. Ogra's appointment was approved by Special Resolution
Both directors are not liable to retire by rotation
Neither director holds any shares in the company
Neither director holds directorships or committee memberships in any other listed entities
