Nature of change: Appointment of an Additional Independent Director.
Name and DIN: Mr. Ajay Kirtane (DIN: 02711040, IDDB Registration No. IDDB-DI-202609-100882).
Effective date and tenure: Appointed for a term of 5 consecutive years, effective from September 7, 2026, to September 6, 2031. The appointment was approved by the Board of Directors via a Circular Resolution on September 7, 2026, and is subject to approval by the company's members via a Postal Ballot.
Brief profile and qualifications: Mr. Kirtane is a qualified Cost & Works Accountant with over 34 years of experience in financial management, debt syndication, mergers and acquisitions, and private equity. He was the founder and an associate member of the management consultancy firm Shah & Kirtane, from which he retired effective March 31, 2025. His consultancy work spanned various industries, including engineering, infrastructure, real estate, and auto components.
Confirmation of eligibility: The company confirms that Mr. Kirtane has not been debarred from holding the office of Director by any order from SEBI or any other authority, in compliance with circulars from the NSE and BSE.
Relationship with other directors: Mr. Kirtane is not related to any other director of the company.
Any Other Material Information
Regulatory compliance: The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
Approval process: The appointment was based on the recommendation of the company's Nomination and Remuneration Committee.
