Board Meeting Details

Meeting held on Tuesday, August 4, 2026 at the Registered Office of the Company from 12:05 PM to 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 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 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 July 1, 2026.

Remuneration Terms: Rs. 2,00,000 per month payable Monthly/Quarterly/Half yearly/Yearly as per financial convenience of the company, plus other perquisites as per agreement. Annual remuneration amounts to Rs. 12,00,000 per annum.

Reason for Reappointment: Mr. Mahendrabhai C Raycha 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.

Approval Status: Approved by Nomination and Remuneration Committee on June 30, 2026 and by Board of Directors on August 4, 2026. Subject to final approval by shareholders through special resolution at ensuing Annual General Meeting within 90 days as per SEBI (LODR) requirements.

Profile of Mr. Mahendra C Raycha

Educational Qualification: Chartered Accountant

Experience: As Chartered Accountant, Industrialist, Managing Director, and Businessman

Current Term Expiry: Till conclusion of next AGM

Next Term: July 1, 2026 to June 30, 2029 (3 years)

Other Directorships: Zenith Lifecare Private Limited, Zenith Medicine Private Limited, Ray Remedies Private Limited, Achyut Healthcare Limited

Professional Membership: Member of The Institute of Chartered Accountants of India (Membership Number: 037038)

Shareholding: Holds 6,604,000 equity shares (12.29% voting power) in personal name

Justification for Reappointment at Age 70

1. Mr. Mahendra C Raycha is a promoter and Director of the Company

2. He is physically and mentally fit to perform his duties as Managing Director

3. Has more than 23 years of experience as Managing Director without any break

4. Under his leadership, the company has progressed well, achieved higher turnover and profits every year, and operates as a Zero Debt Company using own generated funds

5. His rich experience in dealing with clients, suppliers, and employees will ensure smooth functioning and future growth