Nature of change: Appointment as Non-Executive Independent Director
Name and DIN: Mr. Dilip Deshmukh (DIN: 11699759)
Effective date and tenure: Appointment effective September 22, 2026 for a term of 5 (five) consecutive years, approved by members at the 11th Annual General Meeting held on September 22, 2026. Shall not be liable to retire by rotation.
Brief profile: Mr. Dilip Deshmukh is a judicial veteran and corporate law expert with more than four decades of experience in the legal and judicial system. His career has spanned the state judicial service, the High Court judiciary, and corporate adjudication. He previously served as the Chairman of the Company Law Board (CLB), now known as the National Company Law Tribunal (NCLT). Prior to his tenure at the CLB, he was elevated to the Chhattisgarh High Court as a Judge in 2005, where he dealt with constitutional, civil, criminal, and service law issues, and served as the designated judge for corporate matters until 2009. He joined the state judicial service in April 1970 after briefly enrolling as an advocate. He topped his LLM examination from Jiwaji University and secured a gold medal in M.Com from Ravishankar University. He was awarded the National Law Day Award in October 2010 during his tenure as Chairman of the CLB. Since demitting office in 2015, he has established himself as an arbitrator handling both domestic and international arbitration.
Relationship with other directors: Mr. Dilip Deshmukh is not related to any Director of the Company.
Change in Designation of Mr. Rajeev Krishnamuralilal Agarwal
Nature of change: Change in designation from Additional Non-Executive Independent Director to Non-Executive Independent Director
Name and DIN: Mr. Rajeev Krishnamuralilal Agarwal (DIN: 07984221)
Effective date and tenure: Change in designation effective June 25, 2026 for a term of 5 (five) consecutive years, approved by members at the 11th Annual General Meeting held on September 22, 2026. Shall not be liable to retire by rotation.
Brief profile: Mr. Rajeev Krishnamuralilal Agarwal is an Engineering graduate from I.I.T, Roorkee, and a distinguished former Indian Revenue Service (IRS) officer of the 1983 batch, with over three decades of experience in taxation, enforcement, financial regulation, and capital markets. He served as Whole Time Member of SEBI (2011–2016) and Member of the Forward Markets Commission (2005–2011) and held various senior positions in the Income Tax Department over a career spanning nearly three decades. He currently serves as an Independent Director of Trust Asset Management Pvt. Ltd., ACC Ltd., One 97 Communications Ltd. (Paytm), Paytm Money Ltd., Ugro Capital Ltd., Profectus Capital Pvt. Ltd. and MK Ventures Capital Ltd. During his tenure at SEBI, he supervised key policy and regulatory areas including securities markets, commodity derivatives, mutual funds, foreign portfolio investments, market intermediaries, surveillance, enforcement, and corporate restructuring. He played a key role in the merger of the Forward Markets Commission with SEBI, reforms in mutual funds and IPO regulations, facilitation of foreign investments, introduction of the Offer for Sale (OFS) mechanism for PSU disinvestment, development of SME exchanges, strengthening governance and risk management of market infrastructure institutions, simplification of KYC and registration processes, and enhancement of market surveillance and enforcement systems. He has also represented India in international regulatory forums including IOSCO and contributed to capacity-building initiatives in securities market regulation.
Relationship with other directors: Mr. Rajeev Krishnamuralilal Agarwal is not related to any Director of the Company.
