Maxgrow India Limited disclosed the outcomes of its Board Meeting held on June 29, 2026, filed pursuant to Regulation 30 read with Schedule III and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
Key Appointments Approved:
1. Appointment of Internal Auditor:
- The Board appointed M/s. V. G. Kamat & Associates, Chartered Accountants (FRN: 104648W) as Internal Auditor of the Company.
- Effective date of appointment: June 29, 2026
- Term: Financial Year 2026-27 (1 year)
- Reason for change: Appointment as Internal Auditor of the Company
- Brief profile: The firm has diversified experience in providing internal audit services to corporate entities across various sectors, focusing on strengthening governance, internal controls, and risk management frameworks. Their approach is systematic and risk-based, ensuring identification of control gaps, process inefficiencies, and compliance issues.
2. Appointment of Additional Independent Director:
- The Board approved the appointment of Dr. M Krishnan (DIN: 07034128) as Additional Director under the category of Non-Executive Independent Director.
- Effective date of appointment: June 29, 2026
- Term: 5 years (subject to shareholder approval at the next General Meeting or within three months from appointment date, whichever is earlier)
- Not liable to retire by rotation
- Brief profile: Dr. M Krishnan has 37 years of experience in Indian and International Banking (Hong Kong), including more than 20 years of large corporate banking exposure in India and 4 years of international banking exposure in Hong Kong with Canara Bank. He has vast professional experience in different top management capacities.
- Confirmation: Dr. Krishnan confirmed he is not debarred from holding the office of Director pursuant to any SEBI order or authority.
- Relationship disclosure: Dr. M Krishnan is not related to any Director on the Board of the Company.