ANNOUNCEMENT UNDER REGULATION 30 (LODR) - CHANGE IN DIRECTORATE
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SMIFS Capital Markets Limited has appointed two new Additional Directors effective April 4, 2025. Mr. Samarth Parekh joins as a Non-Executive, Non-Independent Director — he is the son of existing Director Mr. Utsav Parekh and holds a BSc from Babson College with over 15 years in investment banking. Mr. Anil Kumar Murarka joins as a Non-Executive, Independent Director for a 5-year term (2025–2029); he is a Practising Company Secretary with 33 years of experience and a Past President of ICSI. Both appointees hold NIL equity shares in the company. The Board also reconstituted the Audit Committee, Nomination & Remuneration Committee, Stakeholders' Relationship Committee, and Committee of Directors to include the new directors.
The appointments strengthen the board, adding investment banking expertise and independent governance depth. Samarth Parekh's entry as a promoter-family member signals continuity in family control and may be viewed positively by long-term shareholders who value succession planning, while the addition of an independent director with strong regulatory credentials should bolster governance standards.