Disclosure under Regulation 30 of SEBI LODR Regulations

Board Meeting Details

The Board of Directors meeting was duly convened on Wednesday, July 8, 2026, commencing at 12:15 PM IST and concluding at 1:15 PM IST.

Key Resolutions Approved

1. Appointment of Independent Director
  • Appointee: Mr. Saradindu Dutta (DIN: 00058639)
  • Designation: Additional Director designated as Non-Executive Independent Director
  • Term: Five consecutive years commencing from July 8, 2026
  • Approval Status: Subject to shareholder approval at the ensuing 39th Annual General Meeting
  • Background: Based on recommendation of Nomination and Remuneration Committee

Director Profile: Mr. Saradindu Dutta is a Master of Commerce from Calcutta University and a qualified Chartered Accountant. He had a four-decade career with ITC Limited, holding various key positions including Executive Vice President & Head – Corporate Accounts. He was Management Committee member of Social Investments Program (ITC Corporate Responsibility Programs) and member of the Sustainability Compliance Review Committee. He served as special invitee on the Accounting Standards Board of ICAI (2013-14 to 2018-19) and was member of CII National Committee on Financial Reporting and CII Sub-Group on Indian Accounting Standards. He served on boards of various ITC Limited investment subsidiaries until superannuation in February 2022. Subsequently partnered with L.B. Jha & Co. Chartered Accountants (March 2022 to January 2023). Currently serves as Executive Director & Trustee of ITC Sangeet Research Academy and Public Interest Director at Calcutta Stock Exchange Limited since March 3, 2025.

Relationship Disclosure: Mr. Dutta is not related to any Director on the Board of the Company.

Compliance Confirmation: Mr. Dutta is not debarred from holding office of Director by virtue of any SEBI order or any other Adjudicating Authority.

2. Change in Designation of Senior Management
  • Employee: Mr. Abhyuday Jhunjhunwala
  • Previous Designation: General Manager – Business Development
  • New Designation: Vice President – Business Development
  • Status: Designated as Senior Management Personnel holding office or place of profit
  • Effective Date: From date of shareholder approval at ensuing 39th AGM
  • Remuneration: Exceeds limits specified in Clause 3(b) of Rule 15 of The Companies (Meetings of Board and its Powers) Rules, 2014
  • Background: Based on recommendations of Nomination and Remuneration Committee and Audit Committee

Management Profile: Mr. Abhyuday Jhunjhunwala holds a Bachelor of Science in Operations and Business Analytics from Kelley School of Business, Indiana University, Bloomington, IN. He is a member of the Entrepreneurs' Organization (EO). Associated with the Company as Intern from June 2021 to December 2023, appointed as General Manager – Business Development effective March 1, 2024. During his tenure, he contributed significantly to marketing and digital initiatives, business development efforts, day-to-day management, execution of key business strategies, and worked closely with senior management team on strategic decision-making and operational execution.

Relationship Disclosure: Mr. Jhunjhunwala is a Relative of Directors of the Company.

Attachments

  • Annexure A: Details for director appointment
  • Annexure B: Details for designation change