Board appoints new Independent Director; Paras Suri resigns citing personal reasons

Board changes at the top.

Mon 28 Sep 2026

New Director Appointed

Mr. Chandresh V. Dobariya appointed as Additional Director (Non-Executive Independent)

Term of Appointment

5 years subject to members' approval

Director Experience

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

Director Resignation

Mr. Paras Suri resigned as Non-Executive Independent Director with immediate effect

Resignation Reason

Personal reasons, no other material reason stated

What was decided

The Board, at its meeting held on September 28, 2026, approved two board-level changes.

Appointment

• Mr. Chandresh V. Dobariya appointed as an Additional Director in the capacity of Non-Executive Independent Director, with immediate effect, holding office up to the conclusion of the Annual General Meeting.
• Term of appointment: 5 years, subject to approval of members of the Company.
• Profile: over 24 years' professional experience in the power and energy sector; Director and CEO of Panacean; experience across generation, transmission, distribution, renewable energy, energy efficiency, system planning, grid integration, BESS and technical/regulatory advisory.
• Qualifications: 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 office of director by SEBI or any other authority.

Resignation

• Mr. Paras Suri resigned from the position of Non-Executive Independent Director with immediate effect, due to personal reasons.
• He confirmed there are no other material reasons for his resignation apart from 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.

Meeting

The meeting commenced at 04:00 PM and concluded at 04:30 PM.

How to read this

This is a governance and board-composition update. An independent director exiting on personal grounds, combined with a same-day induction of a new independent director with sector experience, keeps the independent representation on the board in place. There is no financial or operational figure attached to this change.

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