Hi-Klass Trading CFO Resigns, New Name Proposed

Resignation of CFO:

Mr. Deepak Jhunjhunwala resigned as Chief Financial Officer and Key Managerial Personnel effective August 13, 2026
Reason cited: pre-occupation in other assignments and personal reasons
The resignation letter confirmed no other material reasons for resignation
Board placed on record appreciation for his services

Appointment of New CFO:

Mrs. Bhawana Jha appointed as Chief Financial Officer and Key Managerial Personnel effective August 13, 2026
Appointment based on recommendations of Audit Committee and Nomination and Remuneration Committee
Qualifications: Bachelor of Commerce with 14 years experience in Accounts, Taxation, Finance, GST, Income Tax Act 1961, and Indian Accounting Standards (INDAS) of NBFCs
Expertise includes Indian GAAP, regulatory compliance, taxation, and risk management
Not debarred from holding office by SEBI or any other authority
Remuneration and terms to be governed by Nomination and Remuneration Committee and Board

Risk Management Committee:

Reconstituted effective August 13, 2026 due to changes in Key Managerial Personnel
New composition:
Mr. Dipak Sundarka (Chairman)
Mrs. Bhawana Jha (Member)
Mr. Navin Kumar Jain (Member)
Ms. Sanskkrity Jain (Member)
Board adopted revised Risk Management Policy due to committee composition change

Materiality Determination Officials:

Authorized effective August 13, 2026 for determining materiality under Regulation 30 of SEBI LODR:

Contact details: Phone - 98310121394/9874385558, Email - info@hiklass.co.in

Corporate Office Shift:

Approved shifting from 8/1/2, Dr. U.N. Bramhachari Street, 3rd Floor, Kolkata - 700017 to Room No. 802, 8th Floor, Vasundhara Building, Sarat Bose Road, Kolkata - 700020
Effective from August 13, 2026

New Business Vertical:

Board approved execution of Agreement with Ringo Fincap Private Limited for acquisition and resolution of distressed retail loan portfolios
Agreement subject to alteration of Memorandum of Association, shareholder approval at ensuing AGM, and other applicable approvals

Mr. Akshat Khandelwal:

Designated as President - Portfolio Management & Recovery effective August 13, 2026
Existing employee of the Company
Appointed as Authorised Officer for portfolio management and recovery operations
Authorized to exercise powers and perform duties as assigned by Board and/or Managing Director
Not related to any Director or Key Managerial Personnel
Remuneration as per existing employment terms

Mr. Sanjay Kumar Jain (Managing Director, DIN: 00415316):

Originally appointed as Managing Director on August 30, 2022 for five years effective September 29, 2022
Shareholders approved appointment at AGM held on September 29, 2022
Board approved revision in remuneration to ₹25,000 per month effective August 13, 2026
All other terms and conditions of August 30, 2022 Agreement remain unchanged

Proposed Name Change:

Board approved proposal to change company name from "Hi-Klass Trading and Investment Limited"
Proposed names in order of preference:

1. Nicoindia Finance & Investment Limited

2. Nicoindia Finvest Services Limited

3. Such other name as approved by Registrar of Companies

Subject to availability and approval of Registrar of Companies, CRC, Ministry of Corporate Affairs, RBI, shareholders, and other statutory/regulatory authorities
Requires consequential alteration to Memorandum and Articles of Association subject to shareholder approval