Non-Executive Director retires by rotation at 11th AGM, does not seek re-appointment

Pace E-Commerce Ventures has told BSE that Mr. Harshal Chandrakant Gala (DIN: 09539871), a Non-Executive Director, retires by rotation under section 152(6) of the Companies Act, 2013.

Thu 1 Oct 2026

Director

Mr. Harshal Chandrakant Gala (DIN: 09539871), a Non-Executive Director

Retirement Basis

retires by rotation under section 152(6) of the Companies Act, 2013

Meeting

11th Annual General Meeting held on Tuesday, 29th September, 2026

Cessation

ceases to hold office as a Non-Executive Director at the conclusion of that AGM

Separate Update

AGM voting results were shared separately under Regulation 44(3)

What was disclosed

• Mr. Harshal Chandrakant Gala (DIN: 09539871), a Non-Executive Director of the company, was liable to retire by rotation in terms of section 152(6) of the Companies Act, 2013.
• The Members of the company at the 11th Annual General Meeting held on Tuesday, 29th September, 2026 approved taking note of his retirement.
• The update states he expressed his intention not to seek re-appointment.
• He ceases to hold office as a Non-Executive Director at the conclusion of the Annual General Meeting held on 29th September, 2026.

The rotation rule in simple terms

Under section 152(6), a portion of the board has to retire by rotation at each Annual General Meeting, and such a director may offer himself or herself for re-appointment. So the retirement itself follows a fixed board-tenure rule; what ends the directorship here is that the director did not offer himself for re-appointment.

What the annexure records

• The reason for the change is that the Non-Executive Director, who was liable to retire by rotation, did not offer himself for re-appointment at this Annual General Meeting.
• The date of cessation is the conclusion of the Annual General Meeting held on 29th September, 2026.

How to read this

This is a board-level disclosure about the end of a non-executive director's term. It concerns who sits on the board, not the company's operations or financials, and the intimation is made under Regulation 30 of the SEBI Listing Regulations, with the prescribed details placed in Annexure I.

The AGM voting results have been submitted to the stock exchange separately in accordance with Regulation 44(3) of the SEBI Listing Regulations, and the company has requested the exchange to take this intimation on record.

One observation from the text

The subject line of the letter reads "Regularisation of Additional Director", while the body of the letter and Annexure I set out the retirement by rotation of a Non-Executive Director and his cessation at the conclusion of the Annual General Meeting.

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