Key Decisions and Changes
1. Reappointment of Director
- The Board approved the reappointment of Mr. Ruchir Rushikeshbhai Patel [DIN: 03185133], who retires by rotation and is eligible for reappointment.
- This reappointment is based on the recommendations of the Nomination and Remuneration Committee.
- The reappointment is subject to approval by shareholders at the ensuing 31st Annual General Meeting of the Company.
- Mr. Patel currently serves as Whole Time Director of the company.
- His professional background includes being a Civil Engineer with B.Tech (Civil) & M.S. in Construction Management.
2. Resignation of Independent Director
- The Board took note of the resignation of Mr. Jaydeep Dahyabhai Prajapati [DIN: 11121076] as Independent Director.
- The resignation is effective from September 1, 2026.
- The reason for resignation cited is "pre-occupation in other activities."
- In his resignation letter (Annexure B), Mr. Prajapati requested to be relieved from duties effective closing of business hours on September 1, 2026.
- He conveyed thanks to the Board for their support during his tenure and requested necessary filings with the Registrar of Companies, Gujarat and intimation to BSE.
3. Appointment of New Independent Director
- The Board appointed Mr. Bharat Trivedi [DIN: 07820494] as Additional Director categorized as Independent Director.
- This appointment is based on the recommendations of the Nomination and Remuneration Committee.
- The appointment is subject to approval by shareholders at the next Annual General Meeting.
- Mr. Trivedi is a member of the Institute of Company Secretaries of India.
- He holds a bachelor's degree in commerce & Law.
- He possesses knowledge of Corporate Laws and Legal Compliance Matters.
- He has over 37 years of experience in the Banking Sector.