Board Meeting Decisions

The Board of Directors of Globus Power Generation Limited held a meeting on Thursday, October 29, 2026, through virtual video conferencing facility and approved the following matters:

a) Appointment of New Independent Director

  • Mr. Devesh Bhargava (DIN: 02001318) appointed as Additional Non-Executive Independent Director
  • Appointment based on recommendation of Nomination & Remuneration Committee
  • Term: Five years from October 29, 2026 to October 28, 2031
  • Will hold office as Additional Director until regularization by company members
  • Terms and conditions to be mutually agreed between Board and director
  • Confirmed that Mr. Bhargava is not debarred from holding director office by SEBI or any other authority

b) Resignation of Independent Director

  • Mr. Thamattoor Prabhakaran Nair (DIN: 03608795) resigned as Independent Director
  • Effective from close of business hours on October 30, 2026
  • Reason: Personal reasons and other professional commitments
  • Mr. Nair confirmed no other material reasons for resignation beyond those stated

Director Profile and Relationships

Mr. Devesh Bhargava Profile

  • Mechanical engineering graduate from Indian Institute of Technology, Roorkee
  • Masters in Business Administration (International Finance) from Indian Institute of Management, Bangalore
  • Manages DBR Credit Capital - corporate restructuring, turnaround management, special situation advisory
  • Focus sectors: energy, infrastructure, real estate, metal & mining
  • Former Managing Director & Head, Fixed Income/SSG India at Lehman Brothers (2005-06)
  • Managed investment deals over USD 2 billion in real estate and infrastructure
  • Worked on workouts and exits for Lehman Asian portfolio post-bankruptcy
  • Incubated GE Real Estate and Corporate Finance/Distressed vertical in India
  • Former Head, Corporate Finance Services at ING
  • Former VP - Investment Banking & Global Market Group, Asia at Bank of America (1992-2001)

Director Relationships

  • No inter-se relations between Mr. Devesh Bhargava and other Board Members of the Company

Resignation Details

Mr. Thamattoor Prabhakaran Nair Directorship

  • Did not hold directorship in any other listed entity as of resignation effective date
  • Previously held position as Non-Executive Independent Director at Globus Power Generation Limited
  • Member of Stakeholders Relationship Committee
  • Automatically ceased to be Member of Stakeholders Relationship Committee upon resignation