Disclosure under Regulation 30 of SEBI (LODR), 2015.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Prashant India Ltd's board, at its meeting on May 31, 2025, approved the Director's Report for FY ended March 31, 2025, and recommended appointing M/s. Ashish Bhoola & Co. as new statutory auditors for a 5-year term (till 2030 AGM), replacing M/s. Soni Jhawar & Co. whose term is expiring. Two new Non-Executive Independent Directors were appointed: Mr. Hiren Hasmukh Shah (a Company Secretary with 9+ years of experience) and Mrs. Nishtha Harivanshi Pamnani (MBA Finance, 8+ years in corporate governance), both for 5-year terms subject to shareholder approval. The board also proposed re-appointing Mr. Haribhai Becharbhai Malvia as Non-Executive Non-Independent Director effective July 1, 2025 — notable because he is over 75 years of age and requires special shareholder approval under SEBI Regulation 17(1A). Additionally, Mr. Harsukhbhai Mohanbhai Gondalia (brother of existing director Mr. Prabhudas Mohanbhai Gondalia) resigned as Non-Executive Non-Independent Director effective May 29, 2025, citing pre-occupation. The 42nd AGM is scheduled for June 28, 2025.
Routine auditor rotation and board refresh; the appointment of two independent directors strengthens board composition. Shareholders should note that the re-appointment of an over-75 director requires a special resolution, which may draw attention from governance-focused investors. The departure of a family-connected director (brother of another board member) signals some promoter-family board reshuffling.