Announced Fri, 3 Apr · 18:26 IST

Appointment of Independent Director

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Price reaction · full curve 14 horizons · vs prior close

+20.0%1-day move

₹0.20

prior close

₹0.20

base price

After-mkt

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+0.0+0.0+0.0+0.0+20.0+25.0+15.0+35.0+30.0+35.0+25.0+25.0+20.0+10.0

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AI summary

Shangar Decor Limited announced the appointment of two Additional Directors (Non-Executive Independent Directors) effective April 3, 2026. Mr. Darshil Hemendrakumar Shah, a fellow member of ICSI and law graduate with over 10 years of experience in corporate secretarial and legal functions, was appointed. Mr. Konark Patel, a practising Company Secretary specialising in corporate compliance, project finance, and government subsidies matters, was also appointed. Both directors will serve a term of 5 consecutive years, with shareholder approval to be obtained within 3 months as required under SEBI regulations. Both appointees have confirmed they are not related to any existing directors and are not debarred from holding director positions.

Likely market impact

The appointment of two independent directors strengthens the board's governance structure and independence, which is generally positive for shareholder confidence and regulatory compliance.