Director Reappointments and Appointments
1. Reappointment of Managing Director: The board, on the recommendation of the Nomination and Remuneration Committee and subject to shareholder approval in the ensuing Annual General Meeting, approved the reappointment of Shri Piyush Mutha (DIN: 00424206) as Managing Director for a period of three years, effective from 1st April, 2027 to 31st March, 2030. Shri Mutha has over 33 years of experience in the cotton industry and business, with expertise in conceptualizing, planning, directing, and implementing business decisions. He is the brother of Shri Praneet Mutha, another director of the company. The company confirmed he is not debarred from holding directorship by SEBI or any other authority.
2. Completion of Independent Director Term: The board noted the completion of the second five-year term of Smt. Deepa Sudhir Mekal (DIN: 05222280) as Non-Executive Independent Director, effective from the closure of business hours on 3rd March, 2027. The company confirmed she is not debarred from directorship.
3. Appointment of New Independent Director: The board, on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Smt. Muskaan Gupta (DIN: 09563359) as an Additional Director in the category of Non-Executive Independent Director, effective from 10th August, 2026. Her appointment is for a term of one year, pending regularization at the ensuing Annual General Meeting. She has rich experience in Corporate Governance, Secretarial & Regulatory Compliance, Corporate Laws, Board Processes, Risk Management, and Stakeholder Governance. She has no relationships with other directors, and is not debarred from directorship.
4. Reappointment of Independent Director: The board, on the recommendation of the Nomination and Remuneration Committee and subject to shareholder approval, approved the reappointment of Shri Manish Jhanwar (DIN: 05312225) as Non-Executive Independent Director for a period of five years, effective from 3rd May, 2027 to 2nd May, 2032. He has 15 years of experience in Statutory Audit & Investment Banking, Internal Audit, Tax Audit, and certification work. He has no relationships with other directors, and is not debarred from directorship.
5. Completion of Executive Director Tenure: The board noted the completion of tenure of Shri Manglore Maruthi Rao (DIN: 00776063) as Whole Time Executive Director, effective from the closure of business hours on 28th October, 2026. The company confirmed he is not debarred from directorship.