Nature of change: Appointment of new LIC Nominee Director and cessation of previous nominee
Appointment: Mr. P. S. Negi (DIN: 11918934) appointed as Non-Executive Nominee Director representing Life Insurance Corporation of India
Cessation: Mr. Rajiv Gupta (DIN: 08532421) ceased to be Director due to withdrawal of nomination by LIC
Effective date: Both changes effective from September 30, 2026 (from close of business hours for cessation)
Tenure: Mr. Negi shall not be liable to retire by rotation
Profile: Mr. P. S. Negi is currently Zonal Manager (In-charge) at Life Insurance Corporation of India, North Central Zonal Office, Kanpur. He holds a Master of Science (M.Sc.) degree in Mathematics and has been associated with LIC of India with current responsibilities at the zonal level.
Regulatory compliance: The company confirmed that Mr. Negi is not debarred from holding the office of Director by virtue of any order of SEBI or any other authority, in compliance with BSE circular no. LIST/COMP/14/2018-19 dated June 20, 2018 and NSE circular no. NSE/CML/2018/02 dated June 20, 2018
Relationships: Mr. Negi is not related to any other Director of the Company
Approval process: Appointment approved by the Board of Directors based on recommendation of the Nomination and Remuneration Committee, pursuant to applicable provisions of law
Previous director: Mr. Rajiv Gupta's cessation resulted from LIC's withdrawal of nomination, and the Board placed on record appreciation for his valuable guidance, support and contributions during his tenure
