Shareholders approve re-appointment of Statutory Auditors, Secretarial Auditor, two Independent Directors, Joint MD designation change

Shareholders at the 32nd AGM cleared: KPSJ & Associates LLP re-appointed Statutory Auditors (5 years), Jigar Trivedi & Co Secretarial Auditor (5 years), Pratik Panchal and Smitaben Suthar as Independent Directors.

Sat 3 Oct 2026

Statutory Auditor Re-appointed

KPSJ & Associates LLP, 5 consecutive financial years (FY 2026-27 to FY 2030-31)

Secretarial Auditor Appointed

Jigar Trivedi & Co, 5 consecutive years (FY 2026-27 to FY 2030-31)

Independent Directors Regularised

Pratik Panchal and Smitaben Suthar, first terms of five (5) consecutive years each

Designation Change to Joint Managing Director

Rutvik Beladiya, five (5) years with effect from September 30, 2026

AGM Held

32nd AGM held on September 30, 2026

Shareholders approved five proposals at the 32nd Annual General Meeting held on September 30, 2026, covering the company's auditors, two independent directors and a change in the designation of one director.

Auditors

• M/s. KPSJ & Associates LLP, Chartered Accountants, re-appointed as Statutory Auditors for a term of 5 consecutive financial years (FY 2026-27 to FY 2030-31).
• M/s. Jigar Trivedi & Co, Practising Company Secretaries, appointed as Secretarial Auditor for a term of 5 consecutive years (FY 2026-27 to FY 2030-31).

Board changes

• Mr. Pratik Bharathbhai Panchal (DIN: 10721812) regularised as a Non-Executive Independent Director, not liable to retire by rotation, for a first term of five (5) consecutive years from July 07, 2026 to July 06, 2031. He is an Information Technology graduate with hands-on experience in software testing, technical support and operations management, and has knowledge of the Software Testing Life Cycle.
• Ms. Smitaben Suthar (DIN: 10721816) regularised as a Non-Executive Independent Director, not liable to retire by rotation, for a first term of five (5) consecutive years from July 17, 2026 to July 16, 2031. She holds a Bachelor of Education and a Bachelor of Arts from Hemchandracharya North Gujarat University, Patan.
• Mr. Rutvikbhai Mukeshbhai Beladiya (DIN: 10726964) moves from Non-Executive Non-Independent Director to Joint Managing Director of the company, liable to retire by rotation, for a period of five (5) years with effect from September 30, 2026. He is an MBA graduate specialising in Finance and Marketing, with exposure to business analysis, market research and strategic planning.

What else the update states

The appointment of both independent directors and the change in designation of Mr. Beladiya were approved by the members by way of Special Resolution. Both independent directors have confirmed that they are not debarred from holding the office of Director by virtue of any order passed by SEBI or any other such authority. The AGM was held through video conferencing or other audio-visual means.

Auditor credentials as stated

• KPSJ & Associates LLP was established in 2003 and the update describes more than 21 years of value-added expertise across accounting, corporate and allied laws, direct and indirect taxation, internal and management audit, risk management, MIS, budgets and forecasting, and transaction advisory.
• CS Jigar Trivedi is an Associate Member of the Institute of Company Secretaries of India and the proprietor of Jigar Trivedi & Co, a graduate from Gujarat University with over 8 years of experience in corporate laws, securities laws, banking laws, corporate governance, secretarial audit and FDI matters.

How this can be read

• Both audit mandates run for the same five-financial-year period, FY 2026-27 to FY 2030-31, so statutory audit and secretarial audit continuity covers that stretch.
• The board composition changes: two independent directors are added on a regularised basis, and a Joint Managing Director position is created by changing the designation of an existing director.
• Mr. Beladiya shifts from a non-executive seat into an executive role and remains liable to retire by rotation, while the two independent directors are not liable to retire by rotation for their first terms.

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