Board Appoints New Independent Director; Existing Independent Director Resigns

Board change at the top.

Mon 28 Sep 2026

New Director Appointment

Mr. Chandresh V. Dobariya appointed as Non-Executive Independent Director, effective 28.09.2026

Director Experience

Over 24 years' professional experience in the power and energy sector

Director Education

M.Tech from IIT Bombay, B.E. from Nirma Institute of Technology

Term of Appointment

5 years, subject to approval of Members

Director Resignation

Mr. Paras Suri resigned as Non-Executive Independent Director, effective 28.09.2026

What was decided

The Board of Directors met on Monday, September 28, 2026 and approved two board-level changes.

New appointment

• Mr. Chandresh V. Dobariya (DIN: 03050615) appointed as an Additional Director in the category of Non-Executive Independent Director, with immediate effect.
• The appointment follows the recommendation of the Nomination and Remuneration Committee.
• As an Additional Director he holds office up to the conclusion of the Annual General Meeting; the stated term of appointment is 5 years, subject to approval of Members.
• Profile: over 24 years' professional experience in the power and energy sector; Director & CEO of Panacean; experience across generation, transmission, distribution, renewable energy, energy efficiency, system planning, grid integration, BESS and technical/regulatory advisory.
• Education: M.Tech from IIT Bombay and B.E. from Nirma Institute of Technology.
• He has no relation with the other Directors, and is not debarred from holding the office of Director by any order of SEBI or any other authority.

Resignation

• Mr. Paras Suri (DIN: 10232000) resigned from the position of Non-Executive Independent Director, accepted with immediate effect. Date of cessation: September 28, 2026.
• Reason stated: personal reasons. He has confirmed there are no other material reasons for his resignation than those stated.
• He does not hold directorship in any other listed entity.
• The Board placed on record its appreciation for his assistance and guidance during his tenure.

How to read this

This is a governance and composition change rather than a business or financial event. Independent directors provide oversight on behalf of all shareholders, so the exit of one and the induction of another is relevant to how the board is constituted. The new appointee's continuation beyond the AGM depends on shareholder approval.

The meeting commenced at 04:00 P.M. and concluded at 04:30 P.M.

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