Announcement under Regulation 30 of SEBI LODR. Letter attached
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Sanco Trans Ltd's Board, at its meeting on February 13, 2026, approved the reappointment of Mr. V. Upendran as Executive Chairman for a three-year term effective April 01, 2026, subject to shareholder approval via special resolution. Mr. Upendran, aged 80, has been leading the company since being appointed Managing Director on January 01, 1986, and also serves in various industry and port trust roles. The Board also reappointed M/s. Sudarsanam and Associates as Internal Auditors for FY 2026-2027, a firm established in 1989 with over three decades of experience auditing listed and fintech companies. Both decisions were recommended by the respective committees (Nomination & Remuneration, and Audit).
Continuity in leadership is maintained with the founder-leader returning as Executive Chairman, which is generally reassuring for shareholders but the reappointment is still subject to shareholder approval. Reappointment of the existing internal auditor also signals stability, though the disclosed family relationship between the Chairman and a Whole Time Director may be a point of governance focus for some investors.