Disclosure under Regulation 30 for change in Designation of Directors
Awaiting price reaction for this filing.
At the AGM held on September 30, 2025, shareholders approved adopting the FY25 audited financial statements along with multiple board changes. Four Independent Directors were appointed: Krishan Kumar Jalan (ex-IAS officer), Parvesh Gupta (Chartered Accountant), Jyoti Gupta (education sector leader), and Sudesh Gupta (real estate/manufacturing). Additionally, Avnish Jindal was regularized as a Director and then appointed as Whole-time Director. Three other persons — Piyush Gupta, Nilesh Jindal, and Purshottam Kumar Gupta — were appointed as Directors. The company also appointed Singhi Chugh & Kumar, Chartered Accountants (FRN: 013613N), as the new Statutory Auditor, replacing the previous one. Shareholders also authorized the company to avail borrowing facilities. Notably, several of the new directors are disclosed as related to the existing Additional Executive Directors, suggesting promoter family members are entering the board.
This is a broad board restructuring, including a new statutory auditor and what appears to be promoter family members joining the board. Shareholders should monitor governance and closely-related-party transactions, though the addition of a retired IAS officer as an Independent Director could strengthen board oversight.