Reappointment of Secretarial Auditor, Independent Directors for 2nd term subject to approval of Members
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On August 14, 2025, Prime Property Development Corporation's board approved two key governance decisions, subject to shareholder approval at the upcoming AGM. First, M/s S.G Associates, led by Mr. Suhas S. Ganpule (a practicing company secretary with 34+ years of experience), was appointed as the Secretarial Auditor for a five-year period covering FY 2025-26 through FY 2029-30. Second, three existing Independent Directors — Mr. Satendra Kumar Bhatnagar (former Chief Commissioner of Income Tax), Mr. Alok Chowdhury (former CEO of the company and ex-SBI banker), and Mrs. Meena Kapadi (Chartered Accountant and ex-BOI employee) — were re-appointed for a second consecutive 5-year term from November 11, 2025 to November 10, 2030. The company confirmed that none of the directors are related to existing board members and none are debarred from holding office by any regulatory authority.
This is a routine corporate governance announcement with no material impact on shareholders or the stock price. It reflects board continuity and standard compliance with SEBI listing requirements. Investors should note that these appointments remain subject to shareholder approval at the ensuing AGM.