Zenith Exports Limited has informed the Exchange regarding Outcome of Board Meeting held on March 06, 2026.
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Zenith Exports Limited's board, meeting on March 6, 2026, approved the appointment of two new Non-Executive Independent Directors: Mrs. Priyanka Poddar (41, company secretary with 3 years of experience) and Mr. Subhajeet Kar (53, senior finance and commercial leader with 26+ years of experience). Both are appointed for a 5-year term, subject to shareholder approval within three months. The board also noted the sudden and unexpected demise of Mr. Sanjay Kumar Shaw, an Independent Director who had served on the board since August 2019. The Audit Committee and Stakeholder Relationship Committee have been reconstituted to include the two new appointees. Separately, the board addressed a prior SEBI non-compliance issue: the company was fined by BSE and NSE for not meeting the board composition requirements under Regulation 17(1) of SEBI LODR. The board stated the delay was inadvertent and confirmed that the new appointments have now brought the company into compliance. A request for waiver of the fine will be submitted to both stock exchanges.
The new appointments restore compliance with SEBI's board composition norms, which is a positive governance signal. Investors should watch for the shareholder approval outcome within three months and the stock exchanges' decision on the fine waiver request.