The meeting of the Board of directors was held today.The outcome of the Board meeting is attached herewith.
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Shangar Decor Limited's board met on September 3, 2025 and approved several key items. The board approved the Director's Report for the financial year ended March 31, 2025 and scheduled the 30th Annual General Meeting for Tuesday, September 30, 2025 at 11:30 AM via video conferencing, with the cut-off date for shareholder eligibility set as September 23, 2025. Mrs. Jalpa Moulin Shah (spouse-related to the promoter family) was appointed as an Additional Non-Executive, Non-Independent Director. Mr. Maulin Samir Shah was redesignated from Non-Executive to Executive Director and Chief Financial Officer, while the existing Managing Director Mr. Samirbhai Rasiklal Shah was additionally appointed as Chairman of the Company. The board also proposed increasing the overall limit of managerial remuneration for directors and expanding the company's authority to give loans and guarantees under Sections 185 and 186 of the Companies Act, all subject to shareholder approval at the upcoming AGM. Various board committees were also reconstituted during the meeting.
The changes indicate promoter-family consolidation at the leadership level, with key family members moving into executive and chairman roles. The proposed increase in remuneration limits and expanded loan/guarantee authority will require shareholder approval at the September 30 AGM and could affect future related-party transactions.