Appointment of Non Executive Independent Directors
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Spice Lounge Food Works Ltd (formerly Shalimar Agencies Limited) has appointed two new Non-Executive Independent Directors on its board, effective September 19, 2025. The new directors are Mr. Uday Kiran Devineni (DIN: 01920226), who brings over 25 years of experience in the IT sector spanning software development, data analytics, and IT consulting, and Mr. Naresh Thaluru (DIN: 11292446), an Infrastructure and Virtualization Consultant with over 10 years of experience in data centre and storage technologies. Both have been appointed on the recommendation of the Nomination and Remuneration Committee for a period of five consecutive years, subject to shareholder approval at the next general meeting. The company has confirmed that neither director has been debarred from holding directorship by SEBI or any other authority, and neither is related to any existing director on the board.
This is a routine governance move that strengthens board independence and brings in technical/IT expertise. For shareholders, it is a neutral-to-mildly-positive signal on governance compliance but is unlikely to materially impact the stock price on its own.