Prabha Energy Limited has informed the Exchange regarding Appointment of Mr Narayanan Sadanandan as Non- Executive Independent Director of the company w.e.f. May 13, 2025.
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Prabha Energy's board met on May 13, 2025 and approved multiple items. The company posted audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025 with an unmodified auditor opinion from M/s Mahendra N. Shah & Co. Mr. Narayanan Sadanandan, a former SBI banker with 40 years of experience including senior roles at SBI Capital Markets and SBI Pension Funds, was appointed as Non-Executive Independent Director for a 5-year term (May 13, 2025 to May 12, 2030), subject to shareholder approval. The board re-appointed M/s Manubhai & Shah LLP as Internal Auditors for FY26 and M/s RPSS & Co as Secretarial Auditors for 5 years, and re-appointed CFO Vishal Palkhiwala as Executive Director for 3 years. Additionally, the board approved selling its 70% stake (3,50,000 equity shares) in Deep Natural Resources Limited, which will cease to be a subsidiary.
The addition of a seasoned banking veteran as Independent Director strengthens board expertise in finance and capital markets. The planned sale of the subsidiary streamlines the group structure, while smooth auditor re-appointments signal routine, stable governance with no negative signals.