A Board Meeting of Sanmit Infra Limited was held on Friday, 10th July, 2026, from 03:00 P.M. to 04:30 P.M. at the company's registered office. The meeting was conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
1. Resignation of Independent Director
The Board took on record the resignation of Mr. Ajay Nanik Chandwani (DIN: 09332747) from the post of Non-Executive Independent Director, effective from 13th June, 2026. The reason for resignation was cited as "advancing age and health related issues." Mr. Chandwani confirmed in his resignation letter that there are no other material reasons for his resignation beyond those stated, and that he holds no claims against the company, nor does the company hold any claims against him. He held no directorships in other listed entities. The required details are enclosed in ANNEXURE - I.
2. Resignation of Statutory Auditor
The Board took on record the resignation of M/s. PAMS & Associates, Chartered Accountants (Firm Registration No: 316079E), as Statutory Auditor of the Company, effective from 12th June, 2026. The reason for resignation was geographical constraints, as the firm is based in Bhubaneswar while the company's operations are in Mumbai. The firm had previously operated through a Mumbai branch that closed in 2024, making audit compliance challenging. The firm confirmed there were no unresolved issues or qualifications requiring attention of members or creditors, and no concerns were raised prior to resignation. Their latest audit report was for the year ended 31st March 2026, submitted on 28th May, 2026. Their term was scheduled to expire after the FY 2027-28 AGM. The required details are enclosed in ANNEXURE - II.
3. Appointment of New Statutory Auditor
The Board approved the appointment of M/s. S S S & Associates, Chartered Accountants (Firm Registration No: 121769W), as Statutory Auditor of the Company for a term of 5 years, covering financial years 2026-2027 to 2030-2031. This appointment is subject to approval by members in the ensuing Annual General Meeting. The firm has 4 partners, all Chartered Accountants, with head office at D-1 Building No. 2, Prakash Nagar, Behind Cottage Hospital, Karad, Satara 415110, and branches in Mumbai and Pune. The firm provides services including Statutory Audit, Internal Audits, Management Audit, Bank Audit, Limited Review, Tax Audit, Foreign Exchange Remittance Certifications, Special Purpose Audit, Information System Audit, and Transfer Pricing Audit. The required details are enclosed in ANNEXURE - III.
4. Distribution of Fractional Share Proceeds
With reference to the Board Meeting held on 4th February 2026 and subsequent approval by members at the Extraordinary General Meeting on 18th March 2026 for consolidation of the company's equity shares, the Board decided to distribute the net proceeds realized from the sale of fractional shares (arising from the consolidation) among eligible shareholders in proportion to their respective fractional entitlements. The distribution will occur after deducting all expenses incurred in connection with such sale, including applicable taxes, charges, and other related expenses.
All announcements are made in compliance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.