This is a regulatory disclosure submitted to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The document provides clarification on a board announcement made on July 1, 2026, concerning changes to the company's board of directors and its committees.
Nature of the Event
The Board of Directors, on July 1, 2026, considered and approved the following items:
1. The appointment of Neha Vinod Kothari (DIN: 11022380) as an Additional (Non-Executive Independent) Director of the company, effective July 1, 2026.
2. The appointment of Aayush Kamleshbhai Shah (DIN: 10149440) as an Additional (Non-Executive Independent) Director of the company, effective July 1, 2026.
3. The receipt and noting of the resignation of Saurabh Shah (DIN: 09212113) from his position as an Independent Director of the company, effective July 1, 2026.
4. The reconstitution of the Board's committees.
Director Appointments
Neha Vinod Kothari:
- Profile: A Chartered Accountant and finance professional with over five years of experience in the insurance sector. Her specialization includes financial planning & analysis (FP&A), strategic planning, budgeting, cost optimization, and business performance management. She has worked with SBI Life, HDFC Life, and Raheja QBE. She holds an MBA in Finance, a Master's in Commerce, and secured an All India Rank 6 in the CA Intermediate examination.
- Relationship & Shareholding: The disclosure states there is no relationship between directors and that her shareholding in the company is nil.
- Eligibility: She is not barred from holding the office of director by virtue of any SEBI order or any other authority.
Aayush Kamleshbhai Shah:
- Profile: Holds a Bachelor of Commerce degree and professional degrees of Company Secretary and Bachelor of Laws. He has 10 years of experience as a Company Secretary and has been working with Wealth First Portfolio Managers Limited (listed on BSE and NSE) as Company Secretary & Compliance Officer since 2015. His experience is in Corporate Laws, Security Laws, Capital Market, Corporate Governance, FEMA Compliances, Listing Process, and liaison with regulatory authorities. He is experienced in obtaining financial services licensing, including SEBI registrations.
- Relationship & Shareholding: The disclosure states there is no relationship between directors and that his shareholding in the company is nil.
- Eligibility: He is not barred from holding the office of director by virtue of any SEBI order or any other authority.
Director Resignation
Saurabh Shah:
- Resigned from the position of Independent Director effective July 1, 2026.
- The reason for resignation, as stated in his letter dated July 1, 2026, is personal reasons.
- He confirmed there are no other material reasons for his resignation.
- His shareholding details were not provided in the annexure (marked Not Applicable).
Committee Reconstitution
The Board approved the reconstitution of the following committees with effect from July 1, 2026:
1. Audit Committee:
- Pankaj Sharma (Non-Executive Independent Director) - Chairperson
- Shweta Samir Shah (Managing Director) - Member
- Aayush Shah (Non-Executive Independent Director) - Member
2. Nomination and Remuneration Committee:
- Aayush Shah (Non-Executive Independent Director) - Chairperson
- Kaival Niteshkumar Shah (Non-Executive Independent Director) - Member
- Pankaj Sharma (Non-Executive Independent Director) - Member
3. Stakeholders Relationship Committee:
- Pankaj Sharma (Non-Executive Independent Director) - Chairperson
- Shweta Samir Shah (Managing Director) - Member
- Aayush Shah (Non-Executive Independent Director) - Member
Financial and Operational Impact
The disclosure does not quantify any financial or operational impact resulting from these board and committee changes.