Attached herewith is information re change in Management / Board of Directors
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The Swastik Safe Deposit and Investments Limited has announced two changes to its Board of Directors effective April 1, 2025. Mr. Jaimin Desai, a Chartered Accountant and Company Secretary with 14+ years of experience in accounts, finance, taxation and corporate law, has been appointed as an Additional Independent Director for a five-year (60-month) term. Currently serving as CFO at a mid-size corporate, he is also pursuing a Senior Management course at IIM Ahmedabad. At the same time, Mr. Surendra Kabra has retired as Independent Director effective March 31, 2025, upon completing his second consecutive tenure in that role. The changes are subject to standard statutory approvals.
This is a routine, planned board transition with no governance red flags — the outgoing director retired normally at the end of his tenure, and the new appointee is an experienced finance professional. The number of independent directors on the board is unchanged, so shareholders should see no material impact on the stock or company direction.