The Revised file is enclosed.
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Sawaca Enterprises held a board meeting on 4 September 2025 and approved several items ahead of its 31st AGM. These included the Director's Report and AGM notice, and the appointment of M/s. Mukesh H. Shah & Co. as the scrutinizer for remote e-voting and voting at the AGM. Two new Additional Non-Executive Independent Directors were appointed — Mr. Kishor Girishbhai Agaja (DIN:02653792) and Mrs. Binaben Vijaykumar Shah (DIN:11272026), both commerce graduates with over 10 years of experience, subject to shareholder approval. At the same time, two Independent Directors resigned citing pre-occupation with other work — Mrs. Lilaben Kishor Bhai Agaja (DIN:07124191) and Mr. Vijay Chhotalal Shah (DIN:07445515), both effective 4 September 2025. Mr. Shetal S Shah's reappointment as Chairman and Managing Director was also approved, pending AGM approval. The Audit, Nomination & Remuneration, and Stakeholder Relationship committees were reconstituted with the new independent directors.
The simultaneous exit of two independent directors and entry of two replacements signals a routine board reshuffle ahead of the AGM, with no governance red flags stated. Shareholders should watch for the AGM outcome, as MD reappointment and regularization of the new independent directors require their approval.