Key Changes Approved by Board
1. Appointment of Mr. Prem Bharath Bist (DIN: 11916669) as an Additional Director in the category of Non-Executive Non-Independent Director with effect from October 30, 2026. His appointment was approved upon the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval at the next General Meeting or within three months from appointment date, whichever is earlier. He shall be liable to retire by rotation.
2. Resignation of Mr. Kolagunda Kumar Siddappa (DIN: 08305351) from the position of Non-Executive Non-Independent Director and Chairman of the Company with effect from closure of meeting on October 30, 2026.
3. Resignation of Ms. Sheela Arvind (DIN: 01020390) from the position of Independent Director of the Company with effect from closure of meeting on October 30, 2026.
Director Background and Details
Mr. Prem Bharath Bist has completed his secondary education and is engaged in private employment. He has working knowledge of the textile industry and silk industry, which is relevant to the company's business. He is not related to any existing director on the Board.
Ms. Sheela Arvind holds directorships in other listed entities:
- Avana Electrosystems Limited: Independent Director
- Spectraa Technology Solutions Limited: Independent Director
Her committee memberships include:
- Avana Electrosystems Limited: Audit Committee (Member), Nomination and Remuneration Committee (Chairperson and Member)
- Spectraa Technology Solutions Limited: Audit Committee (Chairperson), Nomination and Remuneration Committee (Chairperson), CSR Committee (Member)
Documentation
Resignation letters along with detailed reasons are enclosed as Annexure C (for Mr. Kolagunda Kumar Siddappa) and Annexure D (for Ms. Sheela Arvind).
Effective Date
All changes are effective October 30, 2026.