Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015, for Change in Management of the Company.
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Waa Solar Limited announced a change in its top finance leadership on February 24, 2026. Mr. Mangi Lal Singhi resigned from his roles as Non-Executive Director, Chief Financial Officer (CFO), and Key Managerial Personnel, citing pre-occupancy (personal reasons), with no material reasons disclosed. The Board has appointed Mr. Mohanan Shankaran Choran as the new CFO and KMP, effective the same date. Mr. Choran brings over 55 years of experience, including about 20 years as a Finance Director in a public limited company, with expertise in accounts and EPC contract operations. Following Mr. Singhi's exit, the Board has reconstituted the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, which are now composed entirely of Non-Executive Independent Directors. The Board recorded appreciation for Mr. Singhi's contributions during his tenure.
This is a routine management transition with no governance red flags, as the outgoing CFO cited personal reasons and the new appointee is a seasoned finance professional. The reconstituted committees being fully composed of independent directors may be viewed positively on the governance front, while continuity of the finance function is maintained without disruption.