Organic Recycling Systems543997Disaster impact

Board approves cessation of Whole-time Director & CEO; corrigendum to 18th AGM notice

Board meeting on Sept 24, 2026 approved the cessation of Mr. Yashas Bhand as Whole-time Director & CEO with immediate effect.

By ScoutQuest · Thu 24 Sep 2026, 5:34 PM IST · 2 min read

CEO Cessation: Mr. Yashas Bhand ceased as Whole-time Director & CEO with immediate effect from September 24, 2026
Reason for Cessation: Affected by natural calamity/flood situation in Nepal during Kailash Mansarovar pilgrimage; whereabouts being traced by family and…
AGM Item Withdrawn: Item No. 2 on appointment of Mr. Yashas Bhand as Director retiring by rotation stands withdrawn
Replacement Director Proposed: Mrs. Janaki Sarang Bhand proposed for appointment as Director liable to retire by rotation
AGM Schedule: 18th AGM on September 30, 2026 at 11:30 A.M. via VC/OAVM

What was decided

The Board, at its meeting held on September 24, 2026, approved the cessation of Mr. Yashas Bhand, Whole-time Director and CEO, with immediate effect from September 24, 2026.
It approved the appointment of Mrs. Janaki Sarang Bhand as a Director liable to retire by rotation.
It approved issuing a corrigendum to the Notice of the 18th Annual General Meeting, scheduled for September 30, 2026 at 11:30 A.M. through VC/OAVM.

Background given in the corrigendum

After the AGM notice dated September 2, 2026 was dispatched, the Company was apprised of an unfortunate and unforeseen development. Mr. Yashas Bhand, who is also a member of the Promoter Group, had travelled to Nepal in connection with a pilgrimage to the Kailash Mansarovar region and was affected by the natural calamity/flood situation in the region. His family, in coordination with the Ministry of External Affairs, Indian authorities in Nepal and China and local authorities, is working to ascertain his whereabouts. As on the date of the update, the Company has not received any further update from the concerned authorities.

Change to the AGM agenda

Item No. 2, on the appointment of Mr. Yashas Bhand as a Director liable to retire by rotation, stands withdrawn and will not be placed before members.
In its place, members will be asked to pass an ordinary resolution under Section 152 of the Companies Act, 2013 appointing Mrs. Janaki Sarang Bhand, who retires by rotation, as a Director. The Nomination and Remuneration Committee and the Board recommend this.
Note No. 4 and Annexure A of the AGM notice are substituted accordingly. All other contents of the Notice remain unchanged.

About the proposed director

First appointed to the Board on 1st September, 2022; age 41 Years.
Practising psychologist for more than 10 years; qualifications include BA Psychology (gold medalist), MA in Clinical Psychology and a PG Diploma in Guidance and Counselling.
Attended 2 (Two) Board meetings during FY 2025-2026.
Remuneration last drawn: sitting fees of ₹30,000/-. Remuneration sought: sitting fees of ₹10,000/- per Board meeting.
She does not hold directorship in any other listed company.

How investors may read it

The update reports the exit of the company's CEO in distressing personal circumstances, which leaves a senior executive position vacated at short notice. The substitute AGM item is a routine retire-by-rotation appointment of an existing director. The corrigendum is being sent to shareholders by email and is on the Company's website.

Also disclosed

The Company named the Managing Director, Chief Financial Officer and Company Secretary as the Key Managerial Personnel authorised to determine materiality of events and make disclosures to the stock exchanges.

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