Board Meeting Details
The Board of Directors meeting was held on Tuesday, 14th July, 2026, commencing at 04:00 PM (IST) and concluding at 04:40 PM (IST).
Approved Items
1. Investment in Logiciel Solutions Inc., USA
- Target Entity: Logiciel Solutions Inc., incorporated on 15 June 2026 under Delaware, USA laws
- Status: Newly incorporated entity, not yet commenced commercial operations (no turnover or size details applicable)
- Industry: Information Technology (IT) Services, including Software Development, IT Consulting and IT Staffing Services
- Related Party Transaction: Yes, will become wholly-owned subsidiary. Promoters/Promoter Group have indirect interest through company shareholding
- Arm's Length Basis: The proposed investment is being made on an arm's length basis
- Purpose: Strengthen North American market presence, enhance customer engagement, facilitate business expansion, support growth of IT Services and IT Staffing business. Subsidiary will operate in same line of business
- Regulatory Approvals: No prior governmental approval required. Subject to FEMA 1999 compliance, Overseas Investment Rules/Regulations, and applicable laws in India and US
- Consideration: Cash consideration of USD 10,000 for subscription of 10,00,000 shares with par value of USD 0.01 per share
- Shareholding: 100% share capital acquisition (10,00,000 shares), making it wholly-owned subsidiary
- Completion: Expected upon remittance of subscription amount and share allotment, subject to statutory compliances
2. Appointment of Mr. Anshul Sharma as Vice President - Sales
- Appointment Date: 21st April, 2026
- Appointment Type: Regular/Permanent appointment with 6-month probation from joining date
- Profile: IT services sales professional with over 12 years experience in North American business development. Previously held sales leadership roles at Damco, Kritikal Solutions, and Samin Technologies managing 15-member sales team. Track record of over USD 5 million in closed deals across automotive, healthcare, and technology sectors
- Relationships: Not related to any Director or Key Managerial Personnel of the Company
3. Appointment of Mr. Ram Prakash Varanasi as Practice Head - Healthcare
- Appointment Date: 24th June, 2026
- Appointment Type: Initial 3-month contractual engagement (24 June - 24 September 2026) with planned conversion to permanent employment upon successful completion
- Profile: Healthcare technology professional with 15 years experience in EMR/HIS product development, clinical workflow design, and healthcare solutioning. Previously at Napier Healthcare Solutions (8+ years), DXC Technology (Singapore), and Vision Infonet. Expertise in ONC-ATB certification, HL7, FHIR, HIPAA compliance, and AI-healthcare solutions including chest X-ray diagnostics and remote patient monitoring
- Relationships: Not related to any Director or Key Managerial Personnel of the Company
4. Establishment of AI Research & Development Practice
- Initiative: AI Research & Development Practice
- Nature: Strategic business initiative (voluntary disclosure)
- Effective From: March 2026
- Team Lead: Mr. Kumar Gaurav, GenAI Engineer/AI Pod Lead (joined March 2026)
- Team Composition: 4-member dedicated AI engineering team, ring-fenced from staff augmentation deployments
- Objective: Development of proprietary AI tools, AI-augmented delivery workflows, and exploration of AI product opportunities for the Company and its clients
- Funding: Funded under Objects of the IPO earmarked for Research & Development
- Expected Impact: Enhanced delivery efficiency, new revenue streams through AI-enabled services, and strengthened competitive positioning in the IT services market