Rose Merc Limited has filed a regulatory disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding a Management Agreement executed with Amitkumar Singh.
This Management Agreement is part of a broader Collaboration Agreement dated June 1, 2026, executed among: (1) Rose Merc Limited, (2) Virtual Gain Technologies Private Limited ("Virtual"), and (3) Amitkumar Singh and Niti Trivedi. The collaboration concerns the development and operations of the fintech business division of Rose Merc Limited, subject to receipt of necessary authorizations, consents, and approvals from shareholders and concerned Governmental/regulatory authorities in India.
Key Details of Management Agreement:
- Parties: Rose Merc Limited and Amitkumar Singh
- Purpose: To record the terms of Amitkumar Singh's appointment as a Director of the Company and Chief Operating Officer of the proposed fintech division
- Shareholding: Nil shareholding between parties
- Significant Terms: Amitkumar Singh will be appointed as a director on the Board of directors of Rose Merc Limited within the timelines agreed under the Management Agreement
- Relationship to Promoter: The parties are not related to promoter/promoter group/group companies
- Related Party Transaction Status: Currently not a related party transaction. However, upon acquisition of 30.01% shareholding in Virtual Gain Technologies Private Limited by Rose Merc and appointment of majority directors by Rose Merc on Virtual's board, the Management Agreement will become a related party transaction
- Share Issuance: Not applicable (NA)
- Other Disclosures: Reiterates that Amitkumar Singh will be appointed as a director within agreed timelines
The disclosure was signed by Vaishali Parkar Kumar, Managing Director (DIN: 09159108), and references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023.