Key Event Details
The members of the Company have approved the appointment of Mr. Utpal Hemendra Sheth (DIN: 00081012) as a Non-Executive Nominee Director representing Sitara Partners LLP. The appointment is not liable to retire by rotation and was approved by passing a Special Resolution with effect from August 28, 2026.
This appointment follows the company's previous communication dated June 26, 2026 (ref: SHAI/B&S/SE/45/2026-27) regarding his appointment as an Additional Director under the Non-Executive category.
Regulatory Compliance Confirmations
The company confirms that Mr. Utpal Hemendra Sheth is not debarred from holding the office of director by virtue of any SEBI order or any other authority. He is also not disqualified from holding the office of director pursuant to provisions of Section 164 of the Companies Act, 2013, in compliance with BSE Circular LIST/COMP/14/2018-19 and NSE Circular NSE/CML/2018/24 dated June 20, 2018.
Director Profile Details
Mr. Utpal Hemendra Sheth is a seasoned financial markets expert with over 35 years of experience across investment management, capital markets, and corporate finance. He is the Founder and Mentor of TRUST Group and Chanakya Wealth Creation, with TRUST Group being a leading institutionalized, multi-line financial services platform offering investment banking, capital markets, wealth and asset management, and advisory services.
He formerly served as the Chief Executive Officer and Senior Partner at Rare Enterprises, the proprietary investment firm of the late Shri Rakesh Jhunjhunwala. Mr. Sheth possesses extensive expertise in public and private equity investing, portfolio construction, and risk management. His professional experience includes capital raising, mergers and acquisitions, buybacks, and corporate advisory. He also serves on the boards of several public and private companies.