The Board, on the recommendation of the Nomination and Remuneration Committee, approved the following changes subject to shareholder approval where required:

  • Bifurcation of the combined post of Chairman & Managing Director into two distinct positions: Chairman (Non-Executive) and Managing Director (Executive).
  • Change in designation of Mr. Nikhilesh Khandelwal (DIN: 06945684) from "Chairman & Managing Director & CEO" to "Managing Director & CEO", resulting in relinquishment of his post as "Chairman" with effect from August 19, 2026. Except for the change in designation, all other terms of his appointment remain the same.
  • Appointment of Mr. Ravindra Ramesh Maloo (DIN: 09417562), Additional Director (Category: Non-Executive), as Chairman of the Company with effect from August 19, 2026. Mr. Maloo had already been appointed as a Non-Executive Director of the Company effective August 13, 2026. His term is for five years, liable to retire by rotation, and subject to shareholder approval in the ensuing General Meeting.

Reconstitution of Nomination and Remuneration Committee

The reconstituted committee composition is as follows:

| Name | Position | Nature of Directorship |

| Mr. Jiteshkumar N. Agrawal | Chairperson | Non-Executive Independent Director |

| Mr. Arpit Ashok Khemani | Member | Non-Executive Independent Director |

| Mr. Ravindra Ramesh Maloo | Member | Non-Executive Non-Independent Director |

Director Profiles

Mr. Nikhilesh Khandelwal (DIN: 06945684)

Executive Director who joined the company in 2014. Holds a Bachelor of Commerce degree from Rashtrasant Tukdoji Maharaj University. He is not related to any other directors of the company and is not debarred from holding office by SEBI or any other authority.

Mr. Ravindra Ramesh Maloo (DIN: 09417562)

Bachelor of Commerce graduate with over 24 years of experience in stock market, securities trading, investment management, and financial operations. Previously worked with Anand Rathi Share and Stock Brokers Ltd. as Branch Manager (2002-2006) and Vice President - Regional Director, Central Region (2006-2016). Since 2016, engaged in proprietary trading and investment in securities market. Registered Mutual Fund Distributor and Director of Maloo Commodities and Stock Trading Private Limited (Sub-Broker of Choice Equity Broking Private Limited). He is not related to any other directors and is not debarred from holding office.

The disclosure was made to Bombay Stock Exchange as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.