Date: October 05, 2026

KMP / Board / Auditor Changes

Appointments:

  • Mr Jitendra Kantilal Shah (DIN 01795017): Change in designation from Non-Executive Director to Chairman & Managing Director, effective October 06, 2026 for a term of 3 years. Profile: Chartered Accountant with over four decades of experience in Commerce education, leads JSCEL as Chairman & Managing Director.
  • Ms. Pooja Jinit Dharia (DIN 08194333): Appointment as Whole-time Director, effective October 05, 2026 for a term of 3 years. Profile: Chartered Accountant with experience in business strategy, operations, governance and organisational development. Previously Joint Chief Operating Officer at Veranda XL Learning Solutions Private Limited.
  • Mr. Vishal Jitendra Shah (DIN 08194331): Appointment as Whole-time Director, effective October 05, 2026 for a term of 3 years. Profile: Chartered Accountant and education-sector business leader with experience in business development, operations, strategic planning and organisational growth. Previously Joint Chief Operating Officer of Veranda XL Learning Solutions Private Limited.
  • Mr. Sreedhar Muppala (DIN 06550712): Appointment as Non-Executive Non-Independent Director, effective October 06, 2026. Profile: Experience in development and management of educational institutions, commerce education, professional education and curriculum development. Association with ICAI and education sector.
  • Mr. Vijay Kundanmal Choraria (DIN 00021446): Appointment as Non-Executive Independent Director, effective October 06, 2026 for a term of 5 years. Profile: Chartered Accountant, holds Bachelor's degree in General Law, alumnus of Harvard Business School. Promoter and Managing Director of Crest Ventures Limited with over 35 years of experience across real estate, financial services, share registry, engineering services, IT services and travel.
  • Mr. Nilesh Bansilal Mehta (DIN 00199071): Appointment as Non-Executive Independent Director, effective October 06, 2026 for a term of 5 years. Profile: Fellow Chartered Accountant and MBA from IIM Ahmedabad with about 40 years of experience in investing, investment banking and corporate strategy. Designated Partner of Access India Partners LLP, Investment Manager of Access India Fund II.
  • Mr. Devendra Raj Mehta (DIN 01067895): Appointment as Non-Executive Independent Director, effective October 06, 2026 for a term of 1 year. Profile: Retired IAS officer with 41 years of service in Government of Rajasthan and Government of India, including as Chairman of SEBI, Deputy Governor of Reserve Bank of India, and Chief Controller of Imports and Exports (DGFT).
  • Mr. Rajeev Sharma (DIN 01102446): Appointment as Non-Executive Independent Director, effective October 06, 2026 for a term of 1 year. Profile: Over 36 years of experience in consulting, IT and outsourcing industry. Chartered Accountant, Company Secretary, Cost Accountant and LL.M., holds DISA, CISA and CFE certifications. Promoter and Director of Osource Global Pvt. Ltd.
  • Mr. Kalpesh J. Mehta: Appointment as Chief Financial Officer, effective October 06, 2026. Profile: Chartered Accountant with over 25 years of experience in finance across listed companies, financial services, manufacturing, construction and education. Expertise in strategic finance, Ind AS/IFRS reporting, treasury, fund raising, internal financial controls and governance.
  • Mr. Kailash S (Membership Number: A74868): Appointment as Company Secretary & Compliance Officer, effective October 06, 2026. Profile: Company Secretary and holds Bachelor of Commerce in Accounting & Finance from University of Madras. Over three years of experience in listed-company compliance. Previously Manager - Compliance at Veranda Learning Solutions Limited.

Resignations:

  • Mr. K Praveen Kumar (DIN 00591450): Resignation as Non-Executive Director, effective close of business hours on October 06, 2026 due to professional commitments.
  • Mr. R Rangarajan (DIN 00591483): Resignation as Non-Executive Director, effective close of business hours on October 06, 2026 due to professional commitments.

Director Relationships:

  • Mr. Jitendra Kantilal Shah is the father of Mr. Vishal Jitendra Shah and Ms. Pooja Jinit Dharia
  • Ms. Pooja Jinit Dharia is daughter of Mr. Jitendra Kantilal Shah and sister of Mr. Vishal Jitendra Shah
  • Mr. Vishal Jitendra Shah is son of Mr. Jitendra Kantilal Shah and brother of Ms. Pooja Jinit Dharia
  • No inter-se relationships exist between other directors and the existing board members

Compliance Status:

All appointed directors and KMPs are not debarred from holding office pursuant to any SEBI Order or Order of any such authority.

Board Meeting Outcomes

The Board of Directors and Shareholders of J.K. Shah Commerce Education Limited at their respective meetings held on October 05, 2026 approved all the above appointments and noted the resignations.

Context

The disclosure is made pursuant to Regulation 30 of SEBI Listing Regulations and in connection with the Composite Scheme of Arrangement among Veranda Learning Solutions Limited, Veranda XL Learning Solutions Private Limited, and J.K. Shah Commerce Education Limited and their respective shareholders and creditors under Sections 230 to 232 of Companies Act, 2013.