1. Noting of Casual Vacancy occurred due to expiry of term of Mr. Sajid Bijnori (DIN: 02666906) and Mr. Ajay Gandeja (DIN: 08663702), Independent Directors w.e.f. June 06, 2025. 2. Appointment ....
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The board noted the casual vacancy caused by the expiry of term of two Independent Directors, Mr. Sajid Bijnori and Mr. Ajay Gandeja, effective June 6, 2025. Both were immediately reappointed as Additional Independent Directors on June 18, 2025, subject to shareholder approval via postal ballot. The company also unveiled a new business plan to manufacture alcoholic beverage (Alcobev) products by engaging contract bottlers and obtaining required licenses. As a first step, the board approved acquiring assets of Martin Judds Microbreweries Private Limited, in which the company already holds a 10% equity stake.
Routine independent director renewal with no governance disruption, but the pivot into Alcobev manufacturing and the asset acquisition of Martin Judds Microbreweries signal a strategic shift that could expand revenue streams for shareholders if execution goes as planned.