Organic Coatings Limited disclosed the outcomes of its Board of Directors meeting held on Tuesday, 14th July 2026. The meeting commenced at 5:05 PM IST and concluded at 5:42 PM IST.

Key Decisions and Appointments

1. Appointment of Secretarial Auditor

  • Mr. Kamal Lalani, Practicing Company Secretary (Membership No. F13814, PCS: 25395, Peer Review Number 6618/2025), was appointed as Secretarial Auditor for the Financial Year 2026-27.
  • Date of appointment: 14th July 2026
  • Mr. Lalani is a Commerce Graduate and Fellow Member of the Institute of Company Secretaries of India (FCS) with over 11 years of professional experience in Corporate Laws, FEMA, SEBI Regulations, Stock Exchange compliances, Corporate Governance, and Due Diligence.

2. Removal of Internal Auditors

  • M/s Dharmesh A. Shah and Associates, Chartered Accountants Mumbai, were removed as Internal Auditors for the Financial Years 2026-27 and 2027-28.
  • Effective date of cessation: 30th June 2026

3. Appointment of New Internal Auditors

  • M/s. ABSM & Associates, Chartered Accountants, Jaipur (Peer Review No. 016692 and FRN-015966C), were appointed as the new Internal Auditors for Financial Year 2026-27.
  • Date of appointment: 14th July 2026
  • The appointment is in terms of Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules 2014.
  • ABSM & Associates is described as a distinguished professional consultancy firm offering comprehensive business and personal taxation solutions, specializing in Audit and Assurance, Direct Taxation, Insolvency and Bankruptcy, Project Consultancy, Bank Finance, Indirect Taxation, and Management Consultancy.

4. Appointment of Additional Director - Mr. Ramanathan Ganesh

  • Mr. Ramanathan Ganesh (DIN: 00016260) was appointed as an Additional Director in the category of Non-Executive Independent Director effective 14th July 2026.
  • His term will extend until the date of the next Annual General Meeting or the last date on which the AGM should have been held, whichever is earlier.
  • The Board confirmed that Mr. Ganesh is not debarred from holding the office of Director by virtue of any SEBI, MCA, or other statutory authority order.
  • Profile: Over four decades of experience in Finance, Capital Markets, and Investment Banking. Currently serves as Independent Director on the Board of Systematix Corporate Services Ltd (NSE BSE listed), Managing Director of Grow Wealth Consultants Pvt Ltd, and Promoter Director of Arantree Consulting Services Pvt Ltd.
  • Qualifications: Cost Accountant (ICWAI), LLB, Bachelor of Arts (Economics), and certifications in Capital Markets and Financial Management.

5. Appointment of Additional Director - Mr. Subhash Ambubhai Patel

  • Mr. Subhash Ambubhai Patel (DIN: 00535221) was appointed as an Additional Director in the category of Non-Executive Independent Director effective 14th July 2026.
  • His term will extend until the date of the next Annual General Meeting or the last date on which the AGM should have been held, whichever is earlier.
  • The Board confirmed that Mr. Patel is not debarred from holding the office of Director by virtue of any SEBI, MCA, or other statutory authority order.
  • Profile: Founding Partner of S. A. Patel & Co., Chartered Accountants, Vadodara, with over 38 years of experience. Has served as Independent Director on boards of listed and unlisted companies, including India Home Loan Limited (2008-2019).
  • Qualifications: Chartered Accountant (ICAI), Qualified Information Systems Auditor, and Bachelor of Commerce (B.Com.).

6. Cessation of Director

  • Noted the conclusion of the term of Mr. Ashwinkumar Harshadrai Raval (DIN: 09197076) as Non-Executive Independent Director from the close of business hours on 27th June 2026.
  • Consequently, his membership in various committees of the Board also ceased from the close of business hours on 27th June 2026.
  • The Board placed on record its appreciation for his contributions during his tenure from 28th June 2021 to 27th June 2026.

7. Registered Office Relocation

  • Approved the proposal for shifting the Registered Office of the Company from the State of Maharashtra to the State of Gujarat.
  • This is subject to approval of shareholders and other required approvals under the Companies Act, 2013.

Additional Items Approved (as intimated earlier on 7th July 2026)

  • Reconstitution of the Nomination and Remuneration Committee and Audit Committee.
  • Reduction of Remuneration of Directors.
  • Availing of Working Capital Term Loan/Credit Facility of INR 33.60 Lakhs sanctioned by Bank of Maharashtra.
  • Appointment of Nodal Officer of the Company with respect to Investor Education and Protection Fund (IEPF).