Key Board Resolutions

The Board meeting commenced at 3:00 p.m. and concluded at 5:40 p.m. at the Registered Office of the Company. The following matters were considered and approved:

1. Increase in Authorized Equity Share Capital: Approved increasing the authorized equity share capital from ₹13,00,00,000 (Rupees Thirteen Crore Only) divided into 1,30,00,000 (One Crore Thirty Lakh) equity shares of ₹10/- each to ₹1,00,00,00,000 (Rupees Hundred Crore Only) divided into 10,00,00,000 (Ten Crore) equity shares of ₹10/- each.

2. Alteration in Memorandum of Association: Approved alteration in the Object Clause of the Memorandum of Association of the Company as per Companies Act, 2013, subject to approval of shareholders.

3. Resignation of Managing Director: Approved resignation of Chirag Shantilal Thummar (DIN: 10640822) from the post of Managing Director with effect from conclusion of the board meeting on July 4, 2026.

4. Appointment of New Managing Director: Appointment of Mr. Shirish Dhirajlal Savaliya (DIN: 08721554) as Managing Director for a period of five consecutive years with effect from July 4, 2026, subject to shareholder approval at the ensuing general meeting. Mr. Savaliya holds a Bachelor of Commerce degree from Saurashtra University and has over 16 years of experience in finance, accounting, business development, and strategic management.

5. Change in Designation of CFO: Change in designation of Yagnik Arvindbhai Satasiya from Chief Financial Officer to Additional Director (Non-Executive) in the capacity of Chairperson of the Company with effect from July 4, 2026 for a period of five consecutive years, subject to shareholder approval. Mr. Satasiya holds a Bachelor of Engineering in Electrical and has over 9 years of industry experience.

6. Appointment of New CFO: Appointment of Ms. Drashti Harshadbhai Delvadiya as Chief Financial Officer (Key Managerial Personnel). She possesses a Master of Commerce from Saurashtra University and over 9 years of professional experience in finance and accounting.

7. Director Resignations: Took note of resignations of Bipinkumar Babubhai Savalia (DIN: 03339121), Khilan Hareshbhai Savaliya (DIN: 08790209), and Chintan Umeshbhai Bhatt (DIN: 09289074) from directorship with effect from conclusion of the board meeting on July 4, 2026.

8. Reconstitution of Committees: Approved reconstitution of Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee.

9. EGM Arrangements: Appointment of scrutinizer for Extraordinary General Meeting and approval of draft notice of EGM along with explanatory statement pursuant to Section 102 of Companies Act, 2013.

Additional Director Information

All appointed individuals confirmed not debarred from holding office by virtue of any SEBI order or other authority as per BSE Circular No. LIST/COMP/14/2018-19 requirements.

Resignation Letters Details

  • Chintan Umeshbhai Bhatt (Independent Director, DIN: 09289074) resigned due to inability to devote sufficient time, effective July 4, 2026.
  • Chirag Shantilal Thummar (Managing Director, DIN: 10640822) resigned due to personal reasons and pre-occupations, effective close of business hours on July 4, 2026.
  • Khilan Hareshbhai Savaliya (Director, DIN: 08790209) resigned due to personal reasons and pre-occupations, effective close of business hours on July 4, 2026.
  • Bipinkumar Babubhai Savalia (Director, DIN: 03339121) resigned due to personal reasons and pre-occupations, effective close of business hours on July 4, 2026.

All resigning directors confirmed no material reasons other than those stated and requested necessary filings of e-Form DIR-12 with Registrar of Companies.