Independent Director Shruti Mimani resigns after relatives acquire ~4% stake

Independent Director Mrs. Shruti Mimani (DIN: 05238795) has resigned with immediate effect, vide letter dated September 28, 2026.

Mon 28 Sep 2026

Director Name

Mrs. Shruti Mimani (DIN: 05238795)

Resignation Date

September 28, 2026

Relative Shareholding

1,63,544 equity shares (approximately 4% of total voting share capital)

Shareholding Breakdown

Mr. Sushil Bahety 48,544 shares, Mr. Ankit Bahety 15,000 shares, Mrs. Padma Bahety 50,000 shares, Mr. Ankit Bahety HUF 50,000 shares

What happened

MKVentures Capital Limited has intimated BSE that Mrs. Shruti Mimani (DIN: 05238795) tendered her resignation from the office of Independent Director with immediate effect, through a resignation letter dated September 28, 2026.

Why she resigned

Her relatives acquired an aggregate of 1,63,544 equity shares of the company on September 23, 2026, representing approximately 4% of the total voting share capital. Under the Companies Act, 2013, the rules made thereunder and the applicable SEBI Regulations, a shareholding of this size by relatives exceeds the permissible limit for an Independent Director, so she no longer fulfils the independence and eligibility requirements.

She states in her letter that the resignation is solely on account of this change in circumstances and that she has no other material reason for resigning from the Board.

Who bought the shares

• Mr. Sushil Bahety — 48,544 equity shares
• Mr. Ankit Bahety — 15,000 equity shares
• Mrs. Padma Bahety — 50,000 equity shares
• Mr. Ankit Bahety HUF — 50,000 equity shares

How to read this

This is a governance and board-composition change rather than a business or financial event. The stated cause is an eligibility technicality created by family shareholding, not a dispute with the management or Board. The company has said it will make the necessary statutory updates with the Registrar of Companies, the stock exchange and other authorities. Investors may watch for a subsequent announcement on the appointment of a replacement Independent Director, as listed companies must maintain the required number of independent directors on the Board.

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