Board approves 3 new Independent Directors, 3 cessations; Ravi Kumar Gupta nominated Chairman of Ebix Inc

Board approved Dr. Praveen Kumar Gupta, Dr. Satvir Singh Deswal & Dr. Viney Kapoor Mehra as Additional (Non-Executive Independent) Directors; Ms. Ila Gupta, Mr. Anil Kumar & Mr. Devender Kumar Garg ceased as Independent Directors.

Tue 6 Oct 2026

New Independent Directors Appointed

Dr. Praveen Kumar Gupta, Dr. Satvir Singh Deswal & Dr. Viney Kapoor Mehra, effective October 06, 2026

Independent Directors Ceased

Ms. Ila Gupta, Mr. Anil Kumar & Mr. Devender Kumar Garg

Chairman of Ebix Inc. Nominated

Mr. Ravi Kumar Gupta nominated as Director and Chairman of Ebix Inc.

Board composition changes

• Appointment of Dr. Praveen Kumar Gupta, Dr. Satvir Singh Deswal and Dr. Viney Kapoor Mehra as Additional Directors in the category of Non-Executive Independent Directors, with effect from October 06, 2026.
• The appointments were made on the recommendation of the Nomination and Remuneration Committee and are subject to the approval of the Members by way of Special Resolution within the period prescribed under applicable law.
• Cessation of three Independent Directors: Ms. Ila Gupta, Mr. Anil Kumar and Mr. Devender Kumar Garg.
• Consequent reconstitution of the Audit Committee, Nomination and Remuneration Committee, Stakeholders' Relationship Committee, Risk Management Committee, ESG Committee, Executive Committee and High-Powered Steering Committee.

The Board states the exercise was undertaken to ensure the requisite numerical and category-wise composition of the Board, having regard to the Companies Act, 2013 and the SEBI LODR Regulations, and having regard to the directions of the Hon'ble National Company Law Tribunal, New Delhi Bench, vide its order dated 13 February 2025, concerning the status quo in the composition of the Board pending further orders.

Resignations - the disclosed reasons

• Ms. Ila Gupta: family commitments and other personal obligations. Date of intimation of resignation July 12, 2026; date of Board approval for resignation October 06, 2026.
• Mr. Anil Kumar: expansion of other responsibilities. Date of intimation of resignation July 20, 2026; date of Board approval for resignation October 06, 2026.
• Mr. Devender Kumar Garg: personal prior commitments and health-related reasons. Date of intimation of resignation October 05, 2026; date of Board approval for resignation October 06, 2026. His resignation letter states there are no material reasons other than his deteriorating health issues and records his resignation with immediate effect.

Who the new directors are

• Dr. Praveen Kumar Gupta holds a Ph.D. in Law, LL.B. and LL.M., and is Professor & Head, Department of Law, Maharaja Agrasen Institute of Management Studies (MAIMS), Delhi, with over two decades of experience in legal education, teaching, research and academic leadership.
• Dr. Satvir Singh Deswal holds a Doctorate in Electrical Engineering and is Additional Director and Professor of Electrical & Electronics Engineering at Maharaja Agrasen Institute of Technology (MAIT), Delhi, with nearly three decades of experience in teaching, research, academic leadership and institutional administration.
• Dr. Viney Kapoor Mehra holds a Ph.D. and LL.M., and has served as Founder Vice-Chancellor of Dr. B.R. Ambedkar National Law University, Sonipat, and as Commissioner, State Information Commission, Punjab.
• Each of the three appointees disclosed that they are not related to any existing or new Director.

Change at the subsidiary board

• Under the Stockholders Agreement dated August 30, 2024, Ebix Limited, being the shareholder of Ebix Inc., has the exclusive right to nominate and designate directors to the Board of Ebix Inc.
• The Board approved the nomination of Mr. Ravi Kumar Gupta, an Independent Director of the Company, for appointment as Director and Chairman of Ebix Inc. in place of Mr. Devender Kumar Garg. The appointment is to be effected by the Board of Directors of Ebix Inc. in accordance with the applicable provisions.

What this means for a shareholder

• What is changing here is who sits on the Board and its committees, and who chairs Ebix Inc. Board and committee composition is a governance input rather than a financial one.
• The three appointments take effect from October 06, 2026 but are subject to the approval of the Members by way of Special Resolution within the period prescribed under applicable law.

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