1. Appointment of New Independent Director
The Board approved the appointment of Mr. Ajit Eledath Venugopalan (DIN: 09439069) as Additional Director (Non-Executive, Independent) of the Company effective May 28, 2026. The appointment is for a term of five consecutive years, subject to approval by shareholders at the ensuing general meeting.
Mr. Venugopalan is an accomplished banking professional with over 30 years of experience in banking and finance. He joined Shamrao Vithal Co-operative Bank (SVC Co-operative Bank) as a Probationary Officer in 1989 and retired as Managing Director in 2021. Post-retirement, he served as an Advisor for SME credit to Cosmos Cooperative Bank and as an Advisor for debt syndication to SK Fincap Advisors Pvt. Ltd., a category I Merchant Banker. He has also advised banks and NBFCs on dealing with and disposal of stressed loans.
Mr. Venugopalan currently serves as an Independent Director on the boards of Rational Engineers Ltd and Aarti Drugs Ltd. He also serves as an Expert Director on the board of Greater Bombay Co-operative Bank Ltd and as a Non-Executive Director on the boards of Devgiri Forgings Pvt. Ltd. and INTAIGA Technical Solutions Pvt. Ltd.
He is a Chartered Accountant from the Institute of Chartered Accountants of India and a Commerce graduate from the University of Mumbai. Mr. Venugopalan is not related to any Director, Key Managerial Personnel, or Promoters of the Company and is not debarred from accessing capital markets or holding director positions in listed companies.
2. Re-appointment of Existing Independent Director
The Board approved the re-appointment of Mr. Hasmukh Bhavanji Dedhia (DIN: 07510925) as an Independent Director for a second term of five consecutive years effective June 1, 2026, subject to approval by shareholders at the ensuing general meeting.
Mr. Dedhia is a qualified Chartered Accountant with a Diploma in Information Systems Audit from the Institute of Chartered Accountants of India. He has more than 40 years of expertise in statutory, internal, and management audits of large listed entities and corporate advisory services.
Mr. Dedhia is not related to any Director, Key Managerial Personnel, or Promoters of the Company and is not debarred from accessing capital markets or holding director positions in listed companies.
3. Retirement of Independent Director
The Board noted the completion of the second term of Mr. Dilip Khushalchand Gosar (DIN: 07514842) as Independent Director of the Company, effective at the closure of business hours on June 12, 2026.
Additional Information
The disclosure references SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026. Detailed information is provided in Annexure A, Annexure B, and Annexure C respectively. This information is also available on the company's website at www.mitsuchem.com.