Key Decisions and Appointments

1. Annual Secretarial Compliance Report

  • The Board considered and approved the Annual Secretarial Compliance Report for FY 2025-26 issued by M/s. Madhuri J. Bohra & Associates (COP No: 20329), pursuant to Regulation 24A of the Listing Regulations.

2. Appointment of New Independent Directors

The Board appointed three new Additional Non-Executive Independent Directors, each for a term of 5 years effective June 6, 2026, subject to shareholder approval:

  • Mr. Jayantilal Raghunathram Suthar (DIN: 07265227): A qualified Company Secretary and Cost Accountant with 15 years of experience in Accounts, Audit, Taxation, and Corporate laws. He holds no shares in the company and is not related to any existing directors.
  • Mr. Rohit Bhatia (DIN: 10942375): A Practicing Company Secretary with expertise in Corporate Governance, Board processes, and statutory compliances. He holds no shares in the company and is not related to any existing directors.
  • Ms. Asha Shravan Kumar Khedia (DIN: 11743210): A Practicing Company Secretary with over 13 years of experience in Taxation and Corporate Advisory. She holds no shares in the company and is not related to any existing directors.

All appointments are based on the recommendations of the Nomination and Remuneration Committee and are made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

3. Resignation of Director

  • The Board accepted the resignation of Mr. Niraj Hareshbhai Variava (DIN: 09197068) from his position as Non-Executive Independent Director, effective close of business hours on June 7, 2026. The resignation is due to the completion of his present 5-year tenure. Mr. Variava confirmed there are no other material reasons for his resignation.

4. Reappointment of Internal Auditors

  • The Board reappointed M/s. Rajesh H Gupta & Co. (FRN: 133884W), Chartered Accountants, as the Internal Auditors for FY 2026-27 pursuant to Section 138 of the Companies Act, 2013. The firm, established in 2012 and led by CA Rajesh Kumar Gupta, is empanelled with RBI (UCN No. 953990 - Category III) and CAG (BO1883).

5. Compliance Note

  • The Board took note of the compliance done for the quarter and financial year ended March 31, 2026, under SEBI (LODR) Regulations, 2015.

Postponement of Financial Results

The Board postponed the agenda item for consideration and approval of the Audited Standalone Financial Results for the quarter and financial year ended March 31, 2026, along with the Auditors' Report. The new meeting is scheduled for June 13, 2026.

Reason for Delay:

The delay is attributed to the additional time required for extensive reconciliation of inter-branch accounts and balance confirmations across multiple locations. This process is deemed essential to ensure a true and fair view of the financial statements. The company cites this as compliance with SEBI Circular No. CIR/CFD/CMD-1/142/2018 dated November 19, 2018.

Trading Window:

The trading window for the company's securities, which was closed for directors and designated persons from April 1, 2026, will remain closed until 48 hours after the declaration of the audited financial results.

Signatory and Place

The disclosure was signed by Shobith Ganesh Hegde (Managing Director, DIN: 02211021). The meeting was held at the company's registered office at 1202, 12th Floor, Esperanza Building, Next to Bank of Baroda, 198, Linking Road, Bandra (West), Mumbai - 400050.