The Board of Directors of the company in its meeting held on Monday, 25th August, 2025 has considered and approved the attached matters.
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The Board accepted the resignation of Ms. Vrinda Agarwal as Chief Financial Officer and Key Managerial Personnel, effective 25th August 2025, citing better career opportunities. To fill the gap, Mr. Manmohan Shreegopal Agrawal was redesignated from Non-Executive Non-Independent Director to Whole-time Director and CFO for 3 years — notably, he is the father of the promoter and CMD Mr. Sarvesh Manmohan Agrawal. The Board also approved increasing the authorized share capital from ₹54 crore to ₹100 crore and appointed M/s. VRCA & Associates as the new statutory auditor for 5 years, replacing the retiring M/s. VCA & Associates. The 45th AGM is scheduled for 29th September 2025, and all major items are subject to shareholder approval.
The outgoing CFO has left for personal career reasons, but the role is being filled by a promoter family member, which may raise governance concerns among minority shareholders. The capital expansion and auditor rotation are routine and pending shareholder nod at the upcoming AGM.