Dear Sir/Madam, Enclosed herewith outcome of Board Meeting held today, Kindly take above cited information on your record.
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KCD Industries India announced the outcome of its board meeting held on 6th May 2025. Mr. Sagar Shetty resigned as Non-Executive Non-Independent Director effective 5th May 2025, citing pre-occupation and confirming no other material reasons. In his place, two new directors were appointed subject to shareholder approval: Mr. Sahil Shah as Additional Non-Executive Non-Independent Director and Mr. Akash Shah as Additional Executive Director. Both Sahil and Akash Shah are brothers (siblings) from the Shah family, with backgrounds in real estate consultancy and infrastructure. Akash Shah brings over 10 years of experience while Sahil Shah has around 5 years. Neither appointee holds directorship in any other listed entity, and neither is debarred by SEBI from holding a director position.
The board reshuffle signals promoter/family consolidation, with two Shah brothers joining the board (one as Executive Director, one as Non-Executive Non-Independent Director) following the exit of an existing non-independent director. For shareholders, this may raise governance questions about board independence and promoter influence, but also indicates increased promoter commitment. The appointments are subject to shareholder approval at a future general meeting.