Board Meeting Details

The Board Meeting was held on Wednesday, 5th August, 2026 at 4:00 P.M. at the registered office of the Company and concluded at 8:00 P.M.

A. Resignation and Appointment of Statutory Auditor

1. Resignation of Statutory Auditor: The Board accepted the resignation of M/s. PAMS & Associates, Chartered Accountants (FRN: 316079E) as Statutory Auditor of the Company with effect from 19th June, 2026. The resignation was due to geographical constraints as the registered office and operations of the company are in Mumbai while their firm is located in Bhubaneswar, making it challenging to devote adequate time and resources for efficient audit procedures.

2. Appointment of New Statutory Auditor: Based on the recommendation of the Audit Committee, the Board proposed the appointment of M/s. Lipika and Associates, Chartered Accountants (FRN: 145364W) as Statutory Auditor for a term of 5 years from Financial Year 2026-2027 to 2030-2031. This appointment is subject to approval by members in the ensuing Annual General Meeting.

B. Appointment of Internal Auditor

3. Based on the recommendations of the Audit Committee, the Board approved the appointment of Mr. Nitin Oza as Internal Auditor of the Company for the Financial Year 2026-2027. Mr. Oza is a Chartered Accountant with over 25 years of experience and is associated with 6 companies as Director.

C. Appointment of Managing Director (MD)

4. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Manoj Batham (DIN: 11100515) as Additional Director (Executive-Managing Director) of the Company effective 5th August, 2026 for a term of 3 years, subject to approval of members in the ensuing General Meeting. Mr. Batham is a PGDCA-certified accounting professional with over 8 years of experience in financial accounting, taxation, and regulatory compliance.

D. Appointment of Chief Financial Officer (CFO)

5. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Manoj Batham as Chief Financial Officer (CFO) of the Company effective 5th August, 2026.

E. Appointment of Directors

6. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Navneet Khare (DIN: 11100562) as Additional Director (Non Executive-Independent Director) effective 5th August, 2026 for a term of 5 years, subject to member approval. Mr. Khare is a commerce graduate with over 10 years of experience in field verification, documentation, and banking loan liaison processes.

7. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Saroj Kumar Choudhury (DIN: 1143083) as Additional Director (Non Executive-Independent Director) effective 5th August, 2026 for a term of 5 years, subject to member approval. Mr. Choudhury holds an MBA and has over 25 years of experience.

8. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the appointment of Ms. Iranee Tripathy (DIN: 10311352) as Additional Director (Non Executive-Independent Director) effective 5th August, 2026 for a term of 5 years, subject to member approval. Ms. Tripathy is pursuing Company Secretary Course from ICSI and L.L.B from Madhusudan Law University, Cuttack, and completed B.A. from Savitri Women's H S School, Bhanjanagar in 2023.

9. Change of Corporate Office

The Board approved the establishment of the Company's Corporate Office at: 136 - B Wing, Ansa Industrial Estate, Sakiwihar Road, Sakinaka, Andheri (East) Mumbai, Maharashtra - 400 072.

10. Bank Account Opening

The Board approved the opening of a Current Account in the name of Newever Tradewings Limited with HDFC Bank Sakiwihar branch for carrying on the Company's day-to-day banking operations.

F. Amendment in Memorandum and Article of Associations

11. Adoption of Memorandum of Association (MOA) of the company as per Companies Act, 2013, subject to approval of members in the ensuing Annual General Meeting.

12. Adoption of Articles of Association (AOA) of the company as per Companies Act, 2013, subject to approval of members in the ensuing Annual General Meeting.

Financial Impact

Financial impact not quantified in the disclosure. All appointments are subject to shareholder approval where required.