ANNOUNCEMENT UNDER REGULATION 30 - CHANGE IN MANAGEMENT
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The Board of SMIFS Capital Markets Limited, at its meeting on April 04, 2025, approved two new director appointments. Mr. Samarth Parekh, son of existing Director Mr. Utsav Parekh, was appointed as Additional (Non-Executive, Non-Independent) Director; he holds a Science degree from Babson College and has 15+ years of investment banking experience. Mr. Anil Kumar Murarka, a Practicing Company Secretary with 33 years of experience and former President of ICSI, was appointed as Additional (Non-Executive, Independent) Director for a five-year term. Both appointments are subject to shareholder approval within three months. The Board also reconstituted its Audit, Nomination & Remuneration, Stakeholders' Relationship, and Committee of Directors.
Addition of a promoter family member (Samarth Parekh) strengthens promoter representation on the board, while bringing in a highly experienced former ICSI President as Independent Director adds governance expertise. These are routine regulatory appointments requiring shareholder ratification and are unlikely to cause immediate stock price movement.