Appointment of Independent Directors of the Company as per enclosed file.
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Stovec Industries Ltd has appointed two Independent Directors — Mr. Bhanu Bhai Patel (DIN: 00223115) and Mr. Abhay Jadeja (DIN: 03319142) — effective 5th May 2025, for a three-year term subject to shareholder approval. Mr. Patel is a Chartered Accountant (ACA) and B.Com/LLB with over 32 years of experience in industrial and financial sectors, currently serving as Non-Executive Chairman of Oerlikon Textile India. Mr. Jadeja is a law graduate and co-founder of Jadeja & Satiya, practicing in commercial litigation, securities law, and family disputes since 2005. Both are independent of the company's existing directors, KMPs, and promoters, and are not debarred by SEBI. Stovec Industries is a subsidiary of SPGPrints B.V., Netherlands.
Strengthens the board with experienced independent oversight in finance, corporate governance, and legal matters. For shareholders, this is a routine governance update with no direct impact on stock price, though the appointments may improve board quality ahead of the shareholder approval vote.