Considered and approved appointment of Mrs Radhikaben Patel as CFO
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At a board meeting on May 26, 2025, the directors approved the audited standalone and consolidated financial results for the half year and full year ended March 31, 2025, along with an unmodified auditor's opinion. The board noted receipt of in-principle approval for a proposed Rights Issue of fully paid-up equity shares. Mr. Parthkumar Ketanbhai Patel stepped down as CFO/Chief Compliance Officer, and Mrs. Radhika Ben Patel was appointed as the new CFO effective the same day; she is a graduate with experience in administration and accounts. Mr. Akhilesh Kumar Choudhary was appointed as an Additional Director in the Non-executive Chairman category, subject to shareholder approval. Independent Director Mr. Hemant Naginbhai Patel resigned, prompting reconstitution of the Audit, Nomination & Remuneration, and Stakeholders Relationship Committees.
Multiple board-level changes in a single meeting — including a CFO change and an Independent Director exit with committee reshuffling — may be viewed as governance noise by investors. The upcoming Rights Issue, if launched, will dilute existing shareholders and requires close attention to pricing and record-date details.