Appointment and Completion of term of Independent Directors of the Company
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Svaraj Trading & Agencies Ltd announced board changes effective February 10, 2026. Two new Non-Executive Independent Directors, Mrs. Jyotsana Vishnu Joshi (Arts graduate, 10+ years in education) and Mrs. Urvashi Tilkesh Sharma (B.Com, 15+ years in management), were appointed for a 5-year term, subject to shareholder approval. At the same time, Mr. Varun Kumar Choubisa and Mr. Yashawant Kumar Choubisa ceased to be Independent Directors after completing their second consecutive term. Both outgoing directors held key committee positions including Audit Committee, NRC, and Stakeholders Relationship Committee. The board changes were recommended by the Nomination and Remuneration Committee and approved at the board meeting held on February 10, 2026.
Routine board refreshment with two independent directors exiting after completing their maximum tenure under SEBI rules and being replaced by new independent directors. The transition maintains the required number of independent directors on the board, with no material impact expected on shareholders or stock price.