Appointment of Internal Auditor, Authorisation to MD for Signing MOU, Approval of OD Limit.
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At a board meeting on February 14, 2026, SSMD Agrotech India approved several items. Internal auditor Mr. Rajmani Thakur resigned effective February 10, 2026, and Ms. Nancy Jain (Practicing Chartered Accountant) was appointed as the new Internal Auditor for FY 2025-26. The Board authorized Managing Director Mr. Ishu Munjal to negotiate and sign an MOU with Demeter Commodities SL to expand into the oil sector. An overdraft facility of up to ₹5 crore from a bank or financial institution was also approved to fund this expansion. The Board additionally adopted the Monitoring Agency Report for the quarter ended December 31, 2025 on the use of funds raised earlier.
The company is clearly pivoting or extending into the oil sector through a new partnership with Demeter Commodities SL, backed by a fresh ₹5 crore overdraft. Investors should track progress on the MOU and how the borrowed funds are utilized, while the internal auditor change itself looks routine with an immediate replacement.