Resignation of Mr. Haresh Kantilal Parekh (DIN:09116527) as Independent Director of the Company with effect from the end of close of business hours on November 13, 2025. Information as ....
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The board, at its meeting on November 13, 2025, approved multiple items. Mr. Haresh Kantilal Parekh resigned as Independent Director citing personal reasons and other professional commitments, effective close of business on November 13, 2025. Mr. Kevin John (DIN: 11369050), an ex-Indian Army officer, IIM Lucknow alumnus with 21 years of education and vocational sector experience, was appointed as Additional Independent Director for a 5-year term. The board also approved the acquisition of a 60% stake (30,000 shares at INR 10) in Alanscott Qubiverse Limited (AQL) for INR 3 lakh — a related party transaction because promoter Sureshkumar Jain personally holds 39.99% in AQL. AQL was incorporated in September 2025 and operates in quantum-inspired computing, offline AI, and educational technology. Unaudited Q2 FY26 financial results were also approved.
The ID exit and entry result in a neutral board reshuffle. The acquisition, though small in value (INR 3 lakh), signals a strategic pivot toward quantum/AI tech but carries related-party risk since the promoter holds a near-40% stake in the target.