Intimation pertaining to Regulation 30 for change in management
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Awaiting price reaction for this filing.
At the 33rd AGM held on September 26, 2025, shareholders approved the re-appointment of Mr. Naresh Kumar Singla and Mr. Suresh Chand Singla as Managing Directors for a fresh 5-year term from April 1, 2026 to March 31, 2031. Shareholders also approved an increase in remuneration for two Whole-Time Directors, Mr. Shivom Singla and Mr. Udit Singla. Additionally, Mr. Debendra Kumar Sabat, a legal professional with over 20 years of experience, was regularised as an Independent Director for a 5-year term starting August 13, 2025. The post-AGM board has 12 directors, with the Singla family occupying 6 of the 7 non-independent positions, highlighting strong promoter family control of the company.
Continuity in leadership is positive for stability, but the board is heavily dominated by the Singla family, leaving limited independent oversight. Increased remuneration for the two WTDs (who are also family members) means higher outflows for the company, though no red flags or governance concerns were flagged by SEBI or any authority.