Vacation of Office of Mr. Sajid Bijnori (DIN: 02666906) and Mr. Ajay Gandeja (DIN: 08663702) an an Additional Independent Directors of the Company.
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The board noted the expiry of term of two independent directors — Mr. Sajid Bijnori and Mr. Ajay Gandeja — on June 6, 2025, creating casual vacancies. Both were immediately re-appointed as additional independent directors on June 18, 2025, subject to shareholder approval via postal ballot. In a more significant move, the company adopted a new business plan to enter alcoholic beverages (Alcobev) manufacturing by obtaining required licenses and engaging third-party bottlers. As a first step, the board approved acquiring the assets of Martin Judds Microbreweries Private Limited, in which the company already holds a 10% equity stake.
Director changes are largely procedural since both are being reappointed to the same roles. However, the Alcobev entry and asset acquisition of Martin Judds Microbreweries signal a strategic pivot from the company's legacy trading and finance business, which could be a positive catalyst for revenue growth if execution succeeds — but also carries execution and regulatory risks typical of alcohol industry entry.