Board approves leadership reappointments and related-party proposals
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The Board approved three-year extensions for Sangitaben Niteshbhai Vaghasiya as Chairperson and Managing Director and Ramnik Parshottambhai Vaghasiya as Whole-Time Director, effective January 2, 2027 through January 1, 2030, subject to shareholder approval. Annual pay is capped at rupees 18 lakh for her and rupees 12 lakh for him. The Board also approved related-party transactions with Ultracab India and wholly owned subsidiary Jigar Polymers; no values were given. The 10th AGM is set for September 26, 2026.
Leadership continuity may support stability, but higher pay and related-party deals needing shareholder approval may draw scrutiny.