Two independent directors appointed; CFO resigns and new CFO named effective 9 October 2026

The Board of UVS Hospitality and Services Ltd approved two independent director appointments and a change of Chief Financial Officer, all effective 9th October, 2026.

Fri 9 Oct 2026

Independent Directors Appointed

Ms. Rupal Pandey and Mr. Siddharth Salunke, 5 (Five) years, up to 8th October, 2031

CFO Resignation

Mr. Deepak Kumbhar resigned as CFO and KMP, effective 9th October, 2026

New CFO Appointed

Mr. David Machado appointed CFO and KMP, effective 9th October, 2026

The Board of UVS Hospitality and Services Ltd met on Friday, 9th October, 2026 and approved two independent director appointments along with a change of Chief Financial Officer.

Two independent directors added

• Ms. Rupal Pandey appointed as an Additional Non-Executive Independent Director with effect from 9th October, 2026, for a period of 5 (Five) years, up to 8th October, 2031.
• Mr. Siddharth Salunke appointed as an Additional Non-Executive Independent Director on the same terms, effective 9th October, 2026 for 5 (Five) years, up to 8th October, 2031.
• Both appointments are subject to the approval of the members of the Company.
• The Board took note of the declarations of independence received from both, confirming that they meet the criteria of independence prescribed under the applicable provisions of the Companies Act, 2013 and the Listing Regulations, and confirmations that they are not debarred from holding the office of Director by virtue of any order of SEBI or any other such authority.
• The appointments were made based on the recommendations of the Nomination and Remuneration Committee.

Who they are

• Ms. Rupal Pandey is a qualified Company Secretary and law professional with experience in secretarial, legal, compliance and regulatory matters, including corporate governance, Board and shareholder processes, statutory updates, due diligence, private placement, rights issue and preferential allotment, and liaison with statutory authorities, RTAs, depositories and auditors.
• Mr. Siddharth Salunke is a legal professional with experience in corporate and commercial laws, regulatory compliance and legal advisory matters, corporate governance, contractual documentation, statutory compliances and legal due diligence.

CFO transition

• Mr. Deepak Kumbhar resigned from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company, with effect from 9th October, 2026, due to other professional commitments. His resignation letter was received by the Company.
• Mr. David Machado appointed as Chief Financial Officer (CFO), designated as Key Managerial Personnel (KMP) of the Company, with effect from 9th October, 2026.
• Mr. Machado is a finance professional with experience at leading global organisations including ISS and CBRE. He has worked as a Business Controller managing finance functions for blue-chip banking clients including Standard Chartered Bank and IDFC FIRST Bank, covering financial controls, compliance, profitability analysis, cost management, cash flow, budgeting and financial accountability.

Other details from the disclosure

• The Board Meeting commenced at 5:00 p.m. and concluded at 5:15 p.m.

How to read this

This is a change in management. A company's board and its key managerial team, of which the CFO is one, sit at the centre of how a company is supervised and how its financial reporting is run. Two additional independent directors add independent representation on the board, while the CFO role passes to a new person from the same date. The outgoing CFO's stated reason, in his resignation letter, is other professional commitments, and the new CFO's appointment takes effect on the same day.

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