Board approves cessation of three Independent Directors, appointment of three Additional Directors by circulation

Cessation of three Independent Directors: Ms. Ila Gupta, Mr. Anil Kumar, Mr. Devender Kumar Garg.

Tue 6 Oct 2026

Effective date

October 06, 2026

Independent Directors ceased

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

New Non-Executive Independent Directors

Dr. Praveen Kumar Gupta, Dr. Satvir Singh Deswal, Dr. Viney Kapoor Mehra

Board changes approved by circulation

• The Board of Directors of Ebix Limited (formerly Eraaya Lifespaces Limited) approved changes in the composition of the Board, by resolutions passed by circulation on October 06, 2026.
• Cessation of three Independent Directors: Ms. Ila Gupta (DIN: 06410275), Mr. Anil Kumar (DIN: 09477565) and Mr. Devender Kumar Garg (DIN: 02316543).
• Appointment of three new Additional Directors in the category of Non-Executive Independent Directors, with effect from October 06, 2026: Dr. Praveen Kumar Gupta (DIN: 11950022), Dr. Satvir Singh Deswal (DIN: 09554376) and Dr. Viney Kapoor Mehra (DIN: 11976305).
• The update states the exercise was to ensure the requisite numerical and category-wise composition of the Board, with regard to governance continuity and appropriate Board strength, and in furtherance of 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.

Why the three directors ceased

The update gives the reason recorded for each resignation and the date the resignation was intimated; the Board approved the resignations on October 06, 2026.

• Ms. Ila Gupta: family commitments and other personal obligations; intimation July 12, 2026.
• Mr. Anil Kumar: expansion of other responsibilities; intimation July 20, 2026.
• Mr. Devender Kumar Garg: personal prior commitments and health-related reasons; intimation October 05, 2026.

Who the new appointees are

• Dr. Praveen Kumar Gupta is a legal professional, academician and researcher with over two decades of experience. He holds a Ph.D. in Law, LL.B. and LL.M., and is presently Professor & Head, Department of Law, Maharaja Agrasen Institute of Management Studies (MAIMS), Delhi.
• Dr. Satvir Singh Deswal holds a Doctorate in Electrical Engineering and has nearly three decades of experience as an academician, researcher and higher education administrator. He is presently Additional Director and Professor of Electrical & Electronics Engineering at Maharaja Agrasen Institute of Technology (MAIT), Delhi, and has also served as Officiating Director and Dean (Academics) of the Institute.
• Dr. Viney Kapoor Mehra holds a Ph.D. and LL.M. She has served as Founder Vice-Chancellor of Dr. B.R. Ambedkar National Law University, Sonipat, and as Commissioner, State Information Commission, Punjab, besides holding senior academic, statutory and advisory positions.
• The update states that none of the three is related to any existing or new Director.

An approval that is still pending

The appointments were made pursuant to 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.

Committees reconstituted

Consequent upon the board changes, the Board approved the reconstitution of its committees, namely the Audit Committee, Nomination and Remuneration Committee, Stakeholders' Relationship Committee, Risk Management Committee, ESG Committee, Executive Committee and High-Powered Steering Committee.

Change at Ebix Inc.

• Under the Stockholders Agreement dated August 30, 2024, Ebix Limited, being the shareholder of Ebix Inc., has the exclusive right to nominate and designate the directors to the Board of Directors 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 update states the appointment shall be effected by the Board of Directors of Ebix Inc. in accordance with the applicable provisions.

How to read it

• Three independent directors step off the Board and three new ones step on, so the number of independent directors is broadly maintained, with the incoming directors drawn largely from legal and academic backgrounds.
• The resignations carry personal reasons as recorded in the update, and the Board approved them along with the fresh appointments on the same date.
• The new appointments take effect from October 06, 2026, but remain subject to members' approval by Special Resolution, a separate step for shareholders.
• Perceptions can vary: a simultaneous change of independent directors draws attention, while the update presents it as a structured exercise to keep the Board's composition in order and lists the replacements alongside the exits.

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