Intimation of Disclosure under reg. 30 of LODR, 2015, the appointment of Directors in the company is attached herewith.
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Zeal Aqua's board, which met on 24 May 2025, approved three director appointments to be effective 26 June 2025, subject to shareholder approval via postal ballot. Mr. Pradipkumar Ratilal Navik, a chief promoter and pioneer of shrimp farming in Surat, will be the new Managing Director for five years. His son Mr. Rohan Pradipkumar Navik, a promoter-group member who has been with the company since 2010, will be appointed Whole Time Director. Mr. Shantilal Ishwarlal Patel, a promoter and successful shrimp farmer, will also be appointed Whole Time Director for five years; he is the father of existing Whole Time Director Mr. Dhavalkumar Patel. All three have confirmed they are not debarred from directorship by SEBI or any other authority. The cut-off date for the postal ballot was set as 23 May 2025.
This is a promoter-led restructuring of the top management with three promoter-family members taking key board roles (Managing Director and two Whole Time Directors), which strengthens family control over operations. Shareholders will vote on these appointments through postal ballot; outcome may be seen as a signal of long-term promoter commitment but also raises concentration of decision-making.