Date: 26th June, 2026
KMP / Board / Auditor Changes
- Mr. Sameer Kanwar, erstwhile Joint Managing Director, completed his tenure on 31 May 2026
- On his last day of tenure, Mr. Sameer Kanwar raised concerns regarding certain specific practices by Mr. Surinder Paul Kanwar, Chairman & Managing Director of the Company
Regulatory Disclosure
- The Company has made this disclosure in accordance with Regulation 30(4) read with Para B of Part A of Schedule III of the SEBI (LODR) Regulations, 2015
- Additionally complies with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated 25 February, 2025
Governance Actions
- Audit Committee of the Board of Directors met on 15 June, 2026
- Appointed an external agency to carry out impact assessment for the concerns raised by former Joint MD
- External agency advised to provide their report within a reasonable period of time
- Action taken in accordance with company's robust corporate governance practices to ensure transparency, adequacy and regularity
Future Commitments
- Company committed to keeping the exchange informed of any material developments in this matter
- Will follow applicable laws and regulations for ongoing disclosures