Board Meeting Details

The Board meeting commenced at 01:15 PM (IST) and concluded at 03:45 PM (IST) on June 25, 2026.

Key Appointments Approved

The Board approved the appointment of the following Directors and Key Managerial Personnel, subject to shareholder approval:

1. Mr. Maheshkumar Jatashankar Thanki (DIN: 00045946) as Additional Executive Director in capacity as Chairperson and Whole-time Director for 5 years effective June 25, 2026. Profile: Managing Director of Rawmin Mining And Industries Private Limited and director of Saurashtra Minerals Private Limited with over 75 years family legacy in mining, export-import and mineral value-added products. Core competencies include International Trade, Mining Strategy, Administrative Affairs, Finance, Banking, Taxation and Shipping.

2. Mr. Bhargav Girjashankar Thanki (DIN: 00046364) as Additional Executive Director in capacity as Managing Director for 5 years effective June 25, 2026. Profile: Over 35 years experience in mining, manufacture of mineral-based products and international trade of bulk minerals. Currently Whole-time Director of Rawmin Mining And Industries Private Limited and Saurashtra Minerals Private Limited. Core competencies include Business Development, Strategic Projects, International Trade, Mining and Maritime Law, and Bulk Shipping. Has domain knowledge in Battery Energy Storage Systems, Renewable Energy, Rare Earth Elements, Rare Earth Permanent Magnets, Critical Minerals, Advanced Materials, Clean Energy and Artificial Intelligence.

3. Mr. Bhavin Harihar Thanki (DIN: 00046393) as Additional Executive Director in capacity as Whole-time Director for 5 years effective June 25, 2026. Profile: Whole-time Director of Rawmin Mining And Industries Private Limited and Director of Saurashtra Minerals Private Limited. Oversees day-to-day business operations from Porbandar office with hands-on approach to execution. Core competencies span Mineral Processing, Mining Asset Management, Logistics, Transportation, Human Resources Development, Export Supervision, Banking, Finance and Shipping Management.

4. Dr. Deependra Singh (DIN: 03020561) as Additional Director in capacity as Independent Director for 5 years effective June 25, 2026. Profile: Nationally recognized person in India's Rare Earth Elements and critical minerals sector with over 35 years of leadership. Former Chairman and Managing Director of IREL (India) Limited. Established India's first Samarium-Cobalt Rare Earth Permanent Magnet facility and first rare-earth refinery. Recipient of Lifetime Achievement Award from Rare Earths Association of India.

5. Mr. Sunil Kumar Bansal (DIN: 00713868) as Additional Director in capacity as Independent Director for 5 years effective June 25, 2026. Profile: Seasoned finance professional with experience in banking, corporate finance, and insolvency law. Qualifications include Chartered Accountant, Certified Associate of Indian Institute of Bankers (CAIIB), Fellow of Insurance Institute of India, and Registered Insolvency Professional.

6. Mrs. Kavita Rakesh Shah (DIN: 02566732) as Additional Director in capacity as Woman Independent Director for 5 years effective June 25, 2026. Profile: Fellow member of Institute of Chartered Accountants of India with over 30 years experience in finance, accounting, company law, investment banking, capital markets transactions including public offerings, open offers, buybacks, delisting, and valuation. Currently partner with Inga Ventures Private Limited, a category I merchant banker.

7. Mr. Gautam Thanki (PAN: AEMPT5371B) as Chief Financial Officer effective June 25, 2026. Profile: Bachelor of Commerce from University of Pune with over 15 years experience in business administration, finance, banking management, and exposure to mining, manufacture of value added mineral products, and domestic/international trading of minerals.

Director Relationships Disclosure

  • Mr. Maheshkumar Jatashankar Thanki is cousin brother of Mr. Bhargav Girjashankar Thanki and Mr. Bhavin Harihar Thanki
  • Mr. Bhargav Girjashankar Thanki is cousin brother of Mr. Maheshkumar Jatashankar Thanki and Mr. Bhavin Harihar Thanki
  • Mr. Bhavin Harihar Thanki is cousin brother of Mr. Maheshkumar Jatashankar Thanki and Mr. Bhargav Girjashankar Thanki
  • Mr. Gautam Thanki is nephew of Mr. Maheshkumar Jatashankar Thanki, Mr. Bhargav Girjashankar Thanki and Mr. Bhavin Harihar Thanki
  • Dr. Deependra Singh, Mr. Sunil Kumar Bansal, and Mrs. Kavita Rakesh Shah are not related to any other board members

Director Eligibility Confirmation

All appointed directors confirmed not debarred from holding office by virtue of any SEBI order or other authority, and not disqualified under Section 164 of Companies Act, 2013.

Resignations Accepted

The Board took note of resignations effective close of business hours June 25, 2026:

1. Mr. Ashoke Agarwal (DIN: 00050213) as Managing Director

2. Mr. Tushar Agarwal (DIN: 07484201) as Managing Director

3. Mr. Siddhartha Agarwal (DIN: 07987858) as Independent Director

4. Mr. Manish Killa (DIN: 01099954) as Independent Director

5. Mrs. Malvika Sureka (DIN: 09481072) as Independent Woman Director

6. Mr. Ashok Kumar Modi (PAN: AIBPM4054H) as Chief Financial Officer

All resignations were tendered due to "change in management and control of the Company pursuant to the proposed acquisition of a majority stake in the Company by the incoming shareholders and the completion of the open offer process in accordance with the provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011."

Management Change Disclosure

The Board took note of the change in management and change in controlling shareholders/promoter and promoter group of the Company pursuant to completion of the Open Offer process by the Acquirers. The Company will intimate specific details to Stock Exchanges in due course.

Corporate Approvals

1. Memorandum of Association Alteration: Approved alteration and substitution of existing Main Objects Clause to align with proposed business activities and future business plans, subject to shareholder and regulatory approvals.

2. Company Name Change: Approved change of name from "Glittek Granites Limited" to "Rawmin Neo Elements Limited" or "Rawmin Resources Limited" or "Rawmin Neo Energy Limited" or such other name as approved by Central Registration Centre, subject to shareholder, Central Government (through CRC), and other regulatory approvals.

3. Registered Office Shift: Approved shifting registered office from State of Karnataka to State of Maharashtra, and consequently from Bengaluru, Karnataka to Mumbai, Maharashtra, subject to shareholder, Regional Director, and other regulatory approvals.

Administrative Updates

1. KMP Revision: Approved revision in Key Managerial Personnel authorized for determining materiality of events and making disclosures under Regulation 30(5) of SEBI LODR Regulations effective June 25, 2026:

  • Mr. Bhargav Girjashankar Thanki (Additional Director as Managing Director) - bhargav@rawmin.com
  • Mr. Gautam Thanki (Chief Financial Officer) - gautam@rawmin.com

2. Sitting Fees: Approved sitting fees payable to Non-Executive Independent Directors.

3. EGM Convening: Approved convening Extra-Ordinary General Meeting through Video Conferencing/Other Audio Visual Means and/or postal ballot to seek shareholder approval on matters. Managing Director authorized to finalize EGM notice and schedule.

Financial Impact

Financial impact not quantified in the disclosure.

Capital Structure Impact

Capital structure impact not quantified in the disclosure.