Board Appointments Approved

The Board approved the following appointments effective 6th November, 2026:

  • Mr. Alay Bharatkumar Vasavada (DIN: 12017800) as Additional Director (Non-Executive Independent) for a first term of 5 years subject to shareholder approval
  • Ms. Fenali Dixit Shah (DIN: 08052005) as Additional Director (Non-Executive Independent) for a first term of 5 years subject to shareholder approval
  • Mr. Dhruv Shah (DIN: 11999242) as Additional Director (Non-Executive, Non-Independent) subject to shareholder approval
  • Mr. Hitendrakumar Dineshbhai Kapadia as Chief Financial Officer (CFO) effective immediately

Director Profiles and Disclosures

Ms. Fenali Dixit Shah: Associate Member of the Institute of Company Secretaries of India, holds Bachelor of Commerce degree and LL.B. Approximately 10 years of professional experience in corporate laws, corporate governance, regulatory and secretarial compliance, FEMA and financial-sector regulations, with particular exposure to Housing Finance Companies (HFCs) and Non-Banking Financial Companies (NBFCs). Currently associated with Wagad Netrang Road Private Limited as Company Secretary. Previously worked with UBS Securities India Private Limited (2019-2024) and KIFS Housing Finance Private Limited (2016-2018), with two-year internship at Adani Properties Private Limited. Not debarred from holding director office by SEBI or any other authority.

Mr. Alay Bharatkumar Vasavada: Fellow Member of the Institute of Company Secretaries of India and Practising Company Secretary with over 10 years of professional experience. Holds Master's degree in Commerce and LL.M., currently pursuing Ph.D. at Gujarat National Law University. Founded legal and secretarial practice in Ahmedabad in February 2016. Areas of practice include company law, corporate governance, securities laws, legal and compliance due diligence, commercial contracts, intellectual property laws and the Insolvency and Bankruptcy Code, 2016. Has contributed to legal education as visiting faculty at colleges affiliated with Gujarat Maritime University and JG Institute of Law. Not debarred from holding director office by SEBI or any other authority.

Mr. Dhruv Shah: Completed Secondary School Education with practical exposure to business and organisational activities. Has developed understanding of day-to-day business operations, administrative functions and coordination matters. Son of Mr. Pradeep Babulal Shah (DIN: 05349427), who is also a Director of the Company. Not debarred from holding director office by SEBI or any other authority.

Mr. Hitendrakumar Dineshbhai Kapadia: Legal professional with approximately 13 years of experience and sound understanding of financial matters. Possesses practical knowledge of financial management, financial operations and related corporate matters.

Management Changes

The Board noted the relinquishment of Mr. Sandeep Chhaganlal Mathur (PAN: AEKPM1066J) from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company, effective 6th November, 2026. Mr. Mathur will continue to occupy the position of Managing Director on account of Organizational Restructuring. Mr. Mathur confirmed there are no material reasons for said relinquishment and stated his resignation was due to prior personal and professional commitments requiring his attention and time.

Updated Key Managerial Personnel

  • Mr. Sandeep Chhaganlal Mathur - Managing Director (frontlinefsl@gmail.com)
  • Ms. Nisreen Kamari - Company Secretary (frontlinefsl@gmail.com)
  • Mr. Hitendra Kapadia - Chief Financial Officer (frontlinefsl@gmail.com)

Meeting Details

The Board meeting commenced at 03:00 PM and concluded at 04:30 PM on 6th November 2026.