Board approves internal auditor, additional independent director, Kolkata branch office and debt assignment

Board meeting outcome (09 October 2026).

Fri 9 Oct 2026

Internal Auditor Appointed

M/s. Mahesh Sharma & Associates for FY 2026-27 to 2030-31, fee 325,000 per annum plus taxes

Additional Director Appointed

Mr. Chandrashekhar Singh, Non-Executive Independent Director, effective 09 October 2026

Kolkata Branch Office Rent

₹20,000/- a month from 01/10/2026, premises owned by related party Mr. Suresh Bohra

The Board met on 09 October 2026 and approved four matters. Here is what each one says.

Internal auditor appointed

• M/s. Mahesh Sharma & Associates, Chartered Accountants (Firm Registration No. 014330N), has been approved as the internal auditor of the company for the financial years 2026-27 to 2030-31.
• Professional fee: 325,000 per annum plus applicable taxes, on mutually agreed terms and conditions.
• Stated rationale: to assist the company in reviewing and strengthening its internal control systems, risk management processes and operational efficiency, and to support compliance with applicable laws.

New independent director on the board

• Mr. Chandrashekhar Singh (DIN 05131693) has been approved as an Additional Director in the category of Non-Executive Independent Director, with effect from 09 October 2026.
• He shall hold office as an Additional Director up to the date of the ensuing Annual General Meeting. His appointment as an Independent Director for a term of five consecutive years is subject to approval of the shareholders.
• The update states he has furnished a declaration that he meets the criteria of independence, and that he is not debarred from holding the office of Director by virtue of any SEBI order or any other authority.
• His shareholding in the company is NIL, and he is already a director in 2 companies.

Branch office in Kolkata

• The Board considered and approved, in principle, the proposal to establish a branch office at 19, N.S. Road, 27 Floor, Kolkata - 700001, Standard Chartered Bank Building, Kolkata, West Bengal.
• Monthly rent: ₹20,000/- (Rupees Twenty Thousand only), with effect from 01/10/2026.
• The premises are owned by Mr. Suresh Bohra, and the update notes this is a related party transaction in which he is a beneficiary. The Board noted the related-party aspect of the proposed arrangement.
• Stated purpose: to facilitate the company's business operations, development and coordination in Eastern India with Kolkata as its base.
• The Company Secretary has been authorised to execute all necessary documents in this regard.

Debt assignment and a possible share purchase/sale

• The Board approved the Debt Assignment Transaction of Mr. Anuranjan Jha, Pradeep Kumar and Amit Kumar Kushwaha.
• The company may enter into a Share Purchase/Sale transaction of SJM Investments (Delhi) Private Limited.

What stands out for a reader

• Two of the approved items are appointments that relate to oversight and internal controls, one is an office expansion, and one is a transaction involving debt assignment along with a possible share purchase/sale.
• The Kolkata branch office has been approved in principle, and the five-year independent director term is subject to shareholder approval, so these steps are yet to be completed.
• The Kolkata rent is a related party transaction as the update states the premises are owned by Mr. Suresh Bohra, a related party.

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