Board Meeting Details

The Board of Directors meeting was held on Tuesday, August 4, 2026 at the Registered Office of the Company. The meeting commenced at 12:05 PM and concluded at 1:00 PM.

Key Decisions Approved

  • Approved and took on record the Notice of AGM & Director Report
  • AGM of the Company will be held on August 28, 2026 at 10:30 AM through VC/OAVM
  • Fixed August 21, 2026 as "Record Date" for determining members eligible to vote on resolutions or attend the AGM
  • Register of Members & Share Transfer Books will remain closed from Saturday, August 22, 2026 to Friday, August 28, 2026 (both days inclusive)
  • Appointment of M/s. Kamlesh M Shah & CO., PCS as Scrutinizers for e-voting process at the ensuing AGM

Management Reappointment Details

The Nomination and Remuneration Committee recommended and the Board approved the reappointment of Mr. Mahendra C Raycha as Chairman and Managing Director for a further period of 3 years effective from July 1, 2026.

Remuneration Terms

  • Monthly remuneration of ₹2,00,000 payable monthly/quarterly/half yearly/yearly as per financial convenience of the company
  • Other perquisites as per agreement details
  • Annual remuneration up to ₹12,00,000 per annum

Rationale for Reappointment

Mr. Mahendra C Raycha's reappointment is required as he attained the age of 70 years on October 5, 2023. As per provisions of Section 196 of the Companies Act 2013, the company cannot continue the appointment of a person as Managing Director/Whole Time Director without shareholder approval.

Shareholding and Experience

  • Mr. Raycha holds 6,604,000 equity shares (12.29% voting power) in his personal name
  • He has more than 23 years of experience as Managing Director of the company without any break
  • He is a Chartered Accountant (Membership Number: 037038) with experience as industrialist and businessman
  • During his tenure, the company has progressed well, achieved higher turnover and profits annually, and operates as a zero debt company with own generated funds

Approval Process

  • Nomination and Remuneration Committee approved on June 30, 2026
  • Board of Directors approved on August 4, 2026
  • Special resolution approval from shareholders required within 90 days as per SEBI (LODR) provisions
  • Shareholder approval will be sought at the ensuing Annual General Meeting

Other Directorships

Mr. Raycha holds directorship in:

1. Zenith Lifecare Private Limited

2. Zenith Medicine Private Limited

3. Ray Remedies Private Limited

4. Achyut Healthcare Limited

Next Term Duration

The reappointment is for the period from July 1, 2026 to June 30, 2029 (3 years).