Announcement under Regulation 30 regarding re-appointment of Whole Time Director and Independent Director subject to shareholders approval in ensuing Annual General meeting
JAYSREETEA · price
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The Board of Directors has approved the re-appointment of two key directors, pending shareholder clearance at the upcoming AGM. Mr. Vikram Swarup (77 years), currently an Independent Director since February 2021, will be re-appointed for a second term of 5 years. Mr. Vikash Kandoi (48 years), a Chartered Accountant with an IIM Hyderabad MBA, will continue as Executive Director for another 3 years starting April 1, 2027. The company has confirmed both directors are not debarred from holding office and meet statutory criteria. Mr. Kandoi holds 1,126 shares and is related to Mrs. Jayashree Mohta, the Chairperson and Managing Director.
This is a routine governance matter showing leadership continuity. Both re-appointments are standard practice and unlikely to cause stock volatility. The related party disclosure regarding Mr. Kandoi being a relative of the CMD should be noted by investors.