Board approves Ramesh Nair as Additional Director (Non-Executive Independent); reconstitutes three committees

Board appointed Mr. Ramesh Nair as Additional Director (Non-Executive Independent) w.e.f. 12 Oct 2026 for 5 years, subject to shareholder nod.

Mon 12 Oct 2026

Appointment Effective Date

w.e.f. 12 Oct 2026

Proposed Term

5 years, subject to shareholder nod

Committees Reconstituted

Audit, Nomination & Remuneration and Stakeholders Relationship Committees; Mr. Sudhir Kumar Asthana chairs each

Board meeting outcome: 12 October 2026

Ashtasidhhi Industries Limited, formerly known as Gujarat Investa Limited, informed the exchanges that its Board of Directors met on Monday, 12 October 2026. The meeting commenced at 03:00 P.M. and concluded at 03:45 P.M. The Board considered and approved the following business.

What was approved

• Mr. Ramesh Nair (DIN 01227351) has been appointed as an Additional Director in the category of Non-Executive Independent Director of the company with effect from October 12, 2026, based on the recommendation of the Nomination and Remuneration Committee.
• His appointment is proposed for a period of 5 years from today, subject to the approval of the shareholders of the company at the ensuing General Meeting.
• The company confirms that Mr. Ramesh Nair satisfies the criteria of independence prescribed under the Companies Act, 2013 and SEBI Listing Regulations, and that he is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other such authority.
• Mr. Ramesh Nair is not related to any Director of the company.
• The Board also approved the reconstitution of three of its committees.

Committee reconstitution

Each reconstituted committee has Mr. Sudhir Kumar Asthana as Chairperson, with Mr. Ramesh Nair and Mr. Kathan Ronak Joshi as Members. All three are Non-Executive Independent Directors.

• Audit Committee: Mr. Sudhir Kumar Asthana (Chairperson), Mr. Ramesh Nair (Member), Mr. Kathan Ronak Joshi (Member).
• Nomination and Remuneration Committee: Mr. Sudhir Kumar Asthana (Chairperson), Mr. Ramesh Nair (Member), Mr. Kathan Ronak Joshi (Member).
• Stakeholders Relationship Committee: Mr. Sudhir Kumar Asthana (Chairperson), Mr. Ramesh Nair (Member), Mr. Kathan Ronak Joshi (Member).

Who is the new director

Mr. Ramesh Nair holds a Bachelor of Commerce (B.Com.) degree from the University of Calicut, Kerala, obtained in 1990. He has over 30 years of experience in the textile industry and has been associated with various companies in the sector since 1994. The update describes his expertise as covering general management, legal affairs and management-related matters.

What this means for a retail investor

This is a board-level change. An independent director has been added to the Board as an Additional Director, and the appointment is proposed for a term of 5 years, subject to shareholders' approval at the ensuing General Meeting. The three main board committees have been reconstituted, with the same independent director chairing all three and the two other members being independent directors. The disclosure states that the composition of the Board is in compliance with the requirements prescribed under the Companies Act, 2013 and SEBI Listing Regulations.

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