Nature of the Event: This is a regulatory disclosure regarding the fixation of remuneration for the company's Managing Director.
Key Quantitative Figures: The Board of Directors has approved a remuneration of ₹33,333 per month (₹4,00,000 per annum) for the Managing Director.
Dates of Action and Financial Impact:
- The Board meeting was held on 13.11.2026.
- The approved remuneration is effective from 01.11.2026.
- The meeting commenced at 08:30 P.M. and concluded at 10:00 P.M.
Parties Involved: The remuneration is for Mr. Uppuluri Sreenivasa Sreekanth (DIN:01275332), the Chairman & Managing Director (Promoter and Executive). The decision was based on the recommendation of the Nomination and Remuneration Committee.
Purpose/Rationale: Mr. Sreekanth has been serving in his position without remuneration. This approval fixes his pay.
Regulatory References: The disclosure is made pursuant to:
- Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- SEBI Master Circular dated November 11, 2024.
- SEBI Master Circular No. HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated January 30, 2026.
Approval Requirements: The board's approval is subject to the approval of the shareholders of the company and any other approvals required under the applicable provisions of the Companies Act, 2013.
Other Terms: Except for the change in remuneration, all other terms and conditions of his existing appointment remain unchanged. His original appointment is for a term of 5 years, from 26.05.2022 to 25.05.2027.
Additional Information: The disclosure includes an Annexure A with particulars as required by SEBI regulations. The information will also be made available on the company's website at www.edvenswa.com.