Independent Director nominated to the board of an unlisted material subsidiary

Board approved the nomination of Independent Director Mr. Tilokchand Punamchand Ostwal for appointment as Director on the board of KARAMTARA USA INC., an unlisted material subsidiary.

Thu 8 Oct 2026

DIN

00821268

Appointment Period

from October 08, 2026 up to January 09, 2030

Director's Experience

over 42 years of experience in accounting and finance

What the company told the exchanges

• The Board of Directors of the Company has approved the nomination of Mr. Tilokchand Punamchand Ostwal (DIN: 00821268), an Independent Director of the Company, for appointment as a Director on the Board of KARAMTARA USA INC., described as an unlisted material subsidiary.
• The Board of Directors of KARAMTARA USA INC., at its meeting held on October 08, 2026, approved his appointment as a Director on its Board.

Why this appointment

• The reason stated in the update: under Regulation 24(1) of the SEBI Listing Regulations, at least one Independent Director of the Company shall be appointed as Director on the Board of an unlisted material subsidiary of the Company, whether incorporated in India or outside India.

Term of appointment

• Appointment date October 08, 2026, with the appointment up to January 09, 2030.

About the appointee

• He is a Fellow Member of the Institute of Chartered Accountants of India (ICAI) and a member of the United Nations Sub-Committee on Transfer Pricing.
• He has over 42 years of experience in accounting and finance.
• He is associated as a Senior Partner with M/s Ostwal Desai & Kothari, M/s T. P. Ostwal & Associates LLP and M/s DTS & Associates LLP.

Other disclosures made alongside

• He is not related to any Director of Karamtara Engineering Limited or Karamtara USA Inc.
• He is not debarred from holding the office of Director by virtue of any MCA/SEBI order or order of any other such authorities.

How a retail investor may read this

• This is a board-composition and governance update about an unlisted material subsidiary of the company. It tells shareholders which of the parent company's Independent Directors is being placed on the subsidiary's board, and it carries the appointee's profile and the standard independence disclosures.
• The intimation states it is also available on the website of the Company and on the websites of BSE Limited and National Stock Exchange of India Limited.

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