Laser Diamonds531164Board key decisions

Board approves three new directors, office shifts and a ₹1.45 crore loan facility

Board meeting held on Friday, 16th October, 2026 from 02.30 P.M, concluded at 05.00 P.M.

By ScoutQuest · Fri 16 Oct 2026, 5:11 PM IST · 2 min read

Board Meeting Date: Friday, 16th October, 2026 from 02.30 P.M, concluded at 05.00 P.M
Directors Appointed: Mr. Sachin Mishra and Mr. Chandresh Dutt Upadhyay appointed as Additional Non-Executive Independent Directors; Mrs. Mudrika Devi appointed…
Loan Facility: Loan Agreement with Chemfit PVC Solutions Private Limited for a facility aggregating to ₹1.45 crore, the Company being the Borrower

The Board of Directors met on Friday, 16th October, 2026 at 02.30 P.M and concluded at 05.00 P.M, and approved the matters set out below.

Mr. Sachin Mishra (DIN No: 11884960) appointed as an Additional Non-Executive Independent Director w.e.f. 16th October, 2026.
Mr. Chandresh Dutt Upadhyay (DIN No: 01140078) appointed as an Additional Non-Executive Independent Director w.e.f. 16th October, 2026.
Mrs. Mudrika Devi (DIN No: 10936446) appointed as an Additional Non-Executive Woman Director w.e.f. 16th October, 2026.
All three are stated to be not related to any of the Promoters, Members of the Promoter Group or Directors of the Company.
Mr. Chandresh Dutt Upadhyay is described as having knowledge and expertise in finance, business management, corporate strategy, administration and commercial matters, and a sound understanding of corporate governance principles and practices. Mr. Sachin Mishra is described as a consultant and advisor to top-tier companies. Mrs. Mudrika Devi is described as having expertise in marketing and administration.

Registered office shifts within the State of Tamil Nadu, from B-28, Basement, City Centre No. 232/186, Purasawalkam High Road, Kilpauk, Chennai, Tamilnadu-600010 to 508, 2nd floor, Pillaiyar Koil Street, golden George Nagar, Mogappair East, Chennai-600107, w.e.f. October 17, 2026.
A new corporate office is established at 426, 4th Floor, Plot No. 5, City Centre, Dwarka, New Delhi-110078, w.e.f. October 17, 2026.

The Board approved the execution of a Loan Agreement between the Company as Borrower and Chemfit PVC Solutions Private Limited as Lender, for a loan facility aggregating to ₹1.45 crore (Rupees One Crore Forty-Five Lakh only), subject to the terms and conditions stipulated in the Loan Agreement.
This is a borrowing by the company, so it represents money the company takes in and is expected to repay as per the agreement between the two parties.

Audit Committee: Lalit Samdaria, Chairperson, Executive Director; Sachin Mishra, Member, Non-Executive Independent Director; Chandresh Dutt Upadhyay, Member, Non-Executive Independent Director.
Nomination and Remuneration Committee (NRC): Chandresh Dutt Upadhyay, Chairperson, Non-Executive Independent Director; Sachin Mishra, Member, Non-Executive Independent Director; Mudrika Devi, Member, Non-Executive Director.
Stakeholders Relationship Committee (SRC): Chandresh Dutt Upadhyay, Chairperson, Non-Executive Independent Director; Sachin Mishra, Member, Non-Executive Independent Director; Lalit Samdaria, Member, Executive Director.

The two new independent directors sit on all three reconstituted committees, with Mr. Chandresh Dutt Upadhyay chairing both the NRC and the SRC.
The board also carries a woman director in Mrs. Mudrika Devi, who is a member of the NRC.
The registered office move is within Tamil Nadu, while the corporate office is a separate addition in New Delhi.
The loan facility of ₹1.45 crore is the one financial commitment approved at this meeting; the terms and conditions are as stipulated in the Loan Agreement between the Company and Chemfit PVC Solutions Private Limited.

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